The data showed that lenders viewed education as most important but gender and race figured prominently, too. Black men ranked lowest in obtaining loans followed by White women. Lenders cited typos and employment history discrepancies as the main reasons why those two groups ranked low.
In a shocking development, Black women and White men fared far better and Harkness offered her take: “There was an assumption that the African-American woman was on her own raising a family and was therefore a motivated, hardworking and self-confident breadwinner,” she stated.
Lenders said in comments that African-American women had more of their trust and would work harder to repay loans. White women were viewed as the most distrustful of the groups reviewed. Harkness did offer that overall, small errors such as typos and grammatical mistakes lowered chances for all involved.
View the study by going to this link.