Kandi Burruss: Black entrepreneurs face a higher climb

Larry King: Do black entrepreneurs, female and male, face a higher climb?

Kandi Burruss: I definitely think so, and this is the reason why, well for me, in my opinion. A lot of us in the African-American community are first generation wealth. So a lot of us do not have anybody to…

Larry King: You don’t have parents who were millionaires.

Kandi Burruss: Yeah, we didn’t have anybody to ask advice from, we didn’t have anybody to gives us loans. A lot of times people, you know, grew up with bad credit cause their parents were putting things on their credit before they were even old enough to get started. So that to me is a major reason why it’s harder to get started. Even, you know, when you start a business, it’s a certain level that you can get to where you need a large amount to get that – to get to that next level so you can really fulfill your order. And a lot of people can’t even get those type of loans to take it to that level.

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