Date of Conferral







Karina Kasztelnik


This study addressed the perceived negative individual characteristics that may precipitate failure of small business owners in securing microloans. The purpose of this quantitative, nonexperimental, correlational study was to examine how the personality traits of small business owners related to their ability to secure microloans for their business needs. Goldberg’s big five theory provided a framework for the study and aided in forming the research questions focused on the relationship between personality traits of the big five theory and the ability of small business owners to secure microloans for their business needs. A sample of 196 small business owners in the United States were recruited to complete an online survey assessing their personality traits and ability to secure microloans. A binary logistic regression analysis was conducted to address the research aims. The findings of this study imply an overall significant effect of personality traits on small business owners’ ability to secure microloans after controlling for age, gender, and ethnicity. Individually, out of the big five personality traits, only agreeableness was found to be significantly negatively correlated with the ability of the participants to obtain business financing. This study contributes to the existing practice and has the potential for positive social change among small entrepreneurs through evaluation of the theoretical foundations and assumptions underpinning the study objective.