Entrepreneur And Small Business Advocate Hector Barreto Inducted Into The Minority Business Hall Of Fame

LOS ANGELES, June 22, 2012 /PRNewswire-USNewswire/ -- Hector Barreto, Chairman of The Latino Coalition and former Administrator of the U.S. Small Business Administration, was inducted in the Minority Small Business Hall of Fame during a ceremony held last month in Los Angeles.

In receiving the honor Barreto joins his father in the Hall of Fame, making them them the first father and son inductees. The late Hector Barreto, Sr. was previously inducted into the Hall of Fame for his work both as a successful businessman in Kansas City, Missouri as well as for his role as a co-founder of the United States Hispanic Chamber of Commerce.

"It is always an honor to be recognized for the work that you do and the community you care so much about," said Barreto in his acceptance speech last month. "This honor is especially important to me because my father was in the first class of inductees. I am humbled by this award and always recognize the support I have received from family, friends and colleagues who have contributed greatly to any success that I have had in my life. And I am dedicated to continuing my work for the small business and minority business communities."

As SBA Administrator and the nation's leading small business advocate, Barreto would tell entrepreneurs: "You are the engine that drives the American economy and you can challenge anyone of any size." It's a message that is the focus of his popular book The Engine of America, which examines winning business strategies from CEOs of 50 successful small businesses.

During his five years at the agency, the SBA – the nation's largest single financial backer of small business – exceeded all previous records in small business loans, women and minority owned business support, disaster relief and private-public sector procurement opportunities. Barreto directed the delivery of financial and business development programs to America's entrepreneurs from a portfolio of direct, guaranteed and disaster loans worth more than $60 billion.

"I remember reviewing our own Hall of Fame at the SBA," Barreto notes. "There were so many successful national corporations that began small, with a big dream, and made that dream come true."

Now back in the private sector as the founding CEO of the new Tributo A Mi Padre Tequila, he is pursuing his own advice, while serving the memory of his father. Tributo is now the only Tequila in the world with the 5 Star Diamond Award, from The American Academy of Hospitality Sciences, traditionally reserved for long established luxury leaders like the New York Plaza and Beverly Hills hotels, Trump properties and Mercedes Benz.

In addition to his entrepreneurial work leading day-to-day operations of Tributo, Barreto serves as Chairman of The Latino Coalition, the leading Latino non-profit small business organization founded in 1995 with a commitment of building communities and partnerships for a stronger America. He is a driving force behind this organization's tremendous growth over the past several years.

The Minority Business Hall of Fame and Museum, a non-profit organization, was founded in April 2004 through the collaborative efforts of John F. Robinson, president of the National Minority Business Council, Inc., New York; Don McKneely, president and publisher of the Business News Group; and Carol Daugherty Foster, editor of MBN USA, to spotlight the achievements of individuals and institutions who were pioneers in the development and growth of minority businesses globally. The purpose of the MBHF&M is to preserve, recognize and educate society on the contribution of these individuals and institutions.

The Latino Coalition was founded in 1995 by a group of Hispanic business owners from across the country with a commitment of "building communities and partnerships for a stronger America." It has grown into an active membership organization that is now one of the most effective national Latino groups addressing issues that directly impact businesses and consumers as well as affect the well-being of Hispanics in the United States. The organization's agenda is to develop initiatives and partnerships that will foster economic equivalency and enhance overall business, economic and social development of Latinos. TLC is a non-profit nationwide organization with offices in Washington, DC, Southern California, and Guadalajara, Mexico. For more information please visit www.thelatinocoalition.com.

SOURCE The Latino Coalition