Pennsylvania is one of the best states in the United States for minority entrepreneurs to succeed, according to a new study recently released by Lendio.

Lendio analyzed seven key metrics to determine the best and worst states for minority entrepreneurs, including access to small business loans and the business ownership rate.

The Keystone State was No. 11 among the best states where minority-owned businesses have the best chance of surviving and thriving.

Pennsylvania has a minority population of 26.4 percent, with 10.6 percent of businesses being owned by minorities. That puts it at No. 30 nationwide.

The state recorded a job growth at minority-owned businesses of 44 percent from 2019 to 2021, which is the 35th highest percentage. Meanwhile, there are 18 percent of minority-owned startups under two years old, the twentieth highest in the country.

Pennsylvania distributes more business loans to underserved communities at $363 per capita, compared to the national average of $351 per capita through the Federal Community Reinvestment Act.

Also, the change in the number of Community Advantage approvals is at 7.5 percent, which is the fourth highest in the country.

Read more about the best and worst states for minority entrepreneurs at Lendio.

New PA Chamber for Black Owned Businesses Launches.