According to a study that I recently oversaw, Asian-owned businesses have higher average annual revenues, credit scores and expenses than other small companies. For this analysis, we defined "small businesses" as companies having fewer than 250 employees or less than $10 million in annual revenues.

The average annual revenue for Asian-owned businesses was $271,983, compared to $82,866 for non-Asian owned companies. As a result of the positive revenue performance, Asian-owned companies averaged a 658 credit score, compared to 618 for all other groups.

California had the highest percentage (15.32%) of the Asian-owned companies that applied for funding via, followed by New York, which had 12.84% of the total, Texas (8.47%), New Jersey (8.41%), and Florida (7.39%).

On the East Coast and in the Silicon Valley, many of these companies are in the booming IT sector. Meanwhile, in the Midwest, immigrants from South Asia are opening or expanding gas station-convenience stores at unprecedented rates. They are also purchasing existing businesses from retiring Baby Boomers. Thus, the demographics of this country are changing substantially--even in areas that are not traditionally known for their diversity.

Despite the financial success of Asian-owned firms, they still face challenges in securing financing. Many people of Asian descent are unfamiliar and intimidated by the financial system. Some of them do not have sufficient language skills to be able to write a good business plan or articulate what their business does well. These factors can impact the decision-making of underwriters in a negative way.

Here are three ways that Asian entrepreneurs can better their chances of securing funding:

1. Secure help in writing business plans
Many Asian immigrants have to overcome language barriers that can seriously undermine the presentation of a business plan. Any professional document should be devoid of spelling and grammar mistakes. This is particularly true of business plans, which are critical in presenting what a business will be, who is running it, and why a lender should extend credit. If your English language skills need improvement, consider hiring someone to write the business plan for you.

2. Utilize technology to look for the best deals
Don't waste time going from bank to bank. Again, if cultural or language barriers are an issue, walking in and meeting an underwriter in person can decrease your chance of securing funding. You get one shot at making a good first impression. If the bank officer has difficulty understanding what you are saying about your business, it could be a counterproductive meeting. The key in presenting yourself and your business is to be convincing. Filling out an online application that asks for details about the business is a better solution. It saves time and could actually increase your chance of securing a loan because online marketplaces can put borrowers in touch with multiple categories of borrowers: banks, credit unions, microlenders, and alternative lenders. Microlenders, such as Accion East and Online, are in business specifically to help immigrant entrepreneurs (and others) who are seeking small amounts of money secure startup capital.

3. Show that you have skin in the game
According to an SBA report called, Immigrant Entrepreneurs and Small Business Owners, and their Access to Financial Capital by Robert W. Fairlie, Ph.D., roughly two-thirds of immigrant-owned businesses report that the most common source of startup capital is personal or family savings. Lenders like to see that entrepreneurs are willing to risk their own money in their business ventures. Be sure to highlight this fact when corresponding with potential lenders whether it is via written correspondence transmitted via email, a phone conversation or in person.

Having a good idea for a business and solid financial performance are sometimes unfortunately not enough to obtain financing. This is particularly for immigrants from Asia and other countries who may not be confident in their ability to negotiate a deal because of cultural differences and language barriers. If you want to secure funding, you have to be able to sell your company to perspective funders. Help is available, and often it is free. My advice to anyone--no matter what their ethnic background--is to take advantage of these resources. Election Day provides a reminder that the U.S. is a country that has long attracted immigrants because of its entrepreneurial spirit and willingness to support people who are chasing the American Dream.