To prepare for this Assignment, review the draft business Problem Statement. Consider the impact of a well-crafted Problem Statement on developing an effective Doctoral Study Prospectus. By Day 7 Submit the following: One quantitative Problem Statement One qualitative Problem Statement

Qualitative problem statement

Hook Black-owned businesses in low-income city communities that apply for funding have been viewed as unattractive by lenders

Anchor Despite being essential to the economy, minority-owned business loan-application denial rate of 65% is partially explained by disparities like credit histories, while black-owned business applicants were still 25% more likely rejected when applying for loans

The general business problem is that some black-owned businesses lack the support in obtaining financial funding.

The specific business problem is that black-owned business owners lack the support in obtaining financial funding.

Quantitative problem statement

Hook

Banks discriminatory lending practices may be the result of black-owned businesses located in low-income city communities or, greater credit risk, low credit demand, or a combination of these factors

Anchor

Although it has been more than half a century after the Civil Rights passage, economic differences between whites and African-Americans continue to be sources of social and political tension. Only one percent of black-owners obtain loans compared to 7% for white-owned businesses

The general business problem is that black-owned businesses located in low-income city communities will increase the probability of the loan application rejection

The specific business problem is that black-owned businesses located in low-income city communities will increase the probability of loan application rejection