Financing Programs for Hispanics Business-Owners
When the Cash Flows, Your Hispanic Business Grows
Business Loan Programs for Latinos
Imagine The Possibilities for Hispanics in Business With A Business Loan From Gokapital
Not only are our business loans fast and simple; they’re flexible too. The money you receive from GoKapital can be used for almost any business expense. Including:
Expansion or renovations
Marketing advertising, and more
We offer a wide variety of working capital products
Currently about three million small businesses in the United States are run by Latinos. These businesses generate approximately $500 billion in sales a year. Nevertheless, new studies have revealed that Latino entrepreneurs, as well as other minority groups, often struggle to secure the financing they need to grow their businesses.”Many may wonder if there are special financing programs or business loans for Latinos.
Both local and national organizations indeed offer minority-focused programming to help Latinos navigate the loan process and get connected to prospective lenders. If you are a Latino business owner seeking assistance in obtaining credit and financing, check into the following resources that can help you pursue the funding you’re seeking
While the Small Business Administration itself does not offer special business loans for Latinos or any other minority group, the SBA does offer dedicated minority programming, such as the 8(a) Business Development program, to help support these business owners in growing their enterprises.
Minority Business Development Agency:This is the only federal agency that advocates the growth of minority-owned businesses. Although the MBDA does not offer financing itself, it connects entrepreneurs to business development centers nationwide.
The Latino Coalition A membership organization that provides helpful resources for Latino business owners.
Hispanic Credit Union
This organization is a credit union and community development financial institution that seeks to serve traditionally unbanked, underserved immigrant communities. It offers microloans of up to $15,000 ($20,000 for joint applications) for terms of 6-36 months.
Latinos seeking capital to grow their businesses can benefit from the growing number of organizations that offer dedicated programming to support minority business owners. While many institutions may not offer specific business loans for Latinos, they do offer the support resources you will need to understand your options, navigate the process, and prepare the best loan package possible — all of which will help put your business in a better position to receive funding.