## A New Chapter in Raleigh’s Culinary Scene
Angela Salamanca, a well-regarded restaurateur in Raleigh, is eagerly preparing to launch her fifth eatery in the Gateway Shopping Centre. Mala Pata, as it’s to be known, will likely open its doors by the end of April, assuming construction proceeds as planned. This new venture will offer a delectable mélange of Mexican and Latin-American cuisine, focusing particularly on masa-driven delicacies—a tribute to Angela’s rich culinary lineage.
## The Challenge of Capital for Women and Minorities
Despite years of success, Salamanca continues to face financial hurdles. “Accessing capital as a woman and minority remains challenging,” she candidly admits. It’s an experience shared by many; even after two decades in the business, securing loans hasn’t become any easier. Unfortunately, female and minority-led businesses often struggle to obtain adequate funding. According to the [National Women’s Business Council](https://www.nwbc.gov/wp-content/uploads/2023/11/fact-sheet-access-to-capital.pdf), women typically start their businesses with half the capital compared to their male counterparts.
## A Ray of Hope in Financial Diversity with NC Invest
The landscape, however, is slowly evolving. It’s been a year since Kamala Harris visited Durham to herald North Carolina’s secured $32 million for the [NC Invest initiative](https://www.ncruralcenter.org/ssbci/nc-venture-capital-program/). The endeavour is tailored for underserved Black or female-owned businesses struggling with finances. Venture capital group [Wocstar Capital](https://www.wocstar.com/), with its emphasis on Women of Color, stands as a beacon of hope. The group has already begun its investments, with CEO Gayle Jennings-Brynn proclaiming, “By us being there and showing success, we hope to attract other entrepreneurs.”
## The Troubling Reality of Loan Denials
Securing funding remains a significant hurdle for minority entrepreneurs. The [United States Business Development Agency](https://nmsdc.org/blog/9-best-small-business-startup-loans-for-minorities/) noted that minority-owned businesses are three times more likely to be rejected for loans than their non-minority counterparts. In North Carolina, over 40% of loan applications are turned down by traditional banks, a staggering figure that doubles the national average. Yet, amidst these challenges, organisations like Loan Well have started making a difference. Recently, they received about [£3 million](https://loanwell.com/) to support minority and female-led enterprises through small-dollar loans.
## Building Brighter Futures
“Unfortunately, small businesses typically are denied loans,” affirmed Loan Well co-founder Justin Straight. Particularly small-dollar loans, which can significantly aid minority-owned businesses. This new wave of capital hopes to reverse the trend and make dreams such as Angela’s, feasible. The sentiment echoes Salamanca who states, “We are driven by a passion for projects we desire.” Yet, without funding, such dreams remain precarious. The challenge for many women and minority entrepreneurs is navigating terms that, more often than not, undermine their business viability.
## A Promising Horizon
In spite of economic uncertainties, Jennings-Brynn remains optimistic about North Carolina’s business climate. “The market and the economy love winners… Building good companies and really great technology,” she declares. Such sentiments reaffirm North Carolina’s position as fertile ground for entrepreneurship.
In conclusion, as Angela Salamanca embarks on her new culinary adventure, the hope is that initiatives like NC Invest will offer others the same fruitful opportunities. In doing so, they can create more jobs and vibrant enterprises across the state.
*Copyright © 2025 WTVD-TV. All Rights Reserved.*
