Funding Resources for All Latinas
The entrepreneurial spirit lives strong in Latino culture, but did you know Latinas make up almost half of all Latino-owned businesses? According to the 2016 American Express State of Women-Owned Business report, Latina-owned firms bring in almost $100 billion a year in revenue. We know, impressive.
According to the research conducted by American Express as one of the largest minority women’s groups in the U.S., Latinas focus largely on service industries, including waste management and administrative shops, with 1.9 million active firms as of 2016. We want you to know you have the potential to be just as successful as fellow Latinas that have already taken the plunge. We’ve outlined a few sites below to help get you started.
Funding for Latina Women
Access to capital doesn’t have to be a barrier to building your business. The resources below will help you get started on your search for funding.
Provides small business loans and support for underrepresented small business owners, including minority women. http://us.accion.org/
Aspen Capital Fund
This fund offers not only funds, but also options on how to grow your business in all ways properly and financially stable. Specializes in Hispanic and minority-owned businesses. http://aspencapitalfund.com/
This organization connects angel investors with highly qualified entrepreneurs and their ventures. After applicants are accepted into Astia’s Expert Sift program, they can pitch any time and participate in monthly Astia Venture Launches out of one of their primary outposts in Silicon Valley, New York City, or London. http://astia.org/
Latinos are the fastest growing minority demographic to own businesses. Unfortunately, banks and other financial institutions often lack sufficient services to assist Latinos, and only 12 percent of them receive loans from national banks. In an effort to combat this inequality, experts at Bankrate compiled the best ways for Latinos to grow their business and overcome the funding gap, including a list of Latino credit unions and minority grant options. https://www.bankrate.com/finance/credit-cards/building-business-as-latino-entrepreneur/
Focusing on African American and Latino communities that have lack of funding, this organization offers to help tech companies in the seed stage who are looking to close gaps in their local community. http://www.kaporcapital.com/
A huge supporter of minority-owned businesses, Wells Fargo continues to support Latinas looking to start their business. They help pair you with the correct funder and offer a resource library for any questions you may have.http://bit.ly/1SOvOjD