Latino Business Lending Group, Préstamos Comerciales Ahora capitalized with $12 million to issue funding to US Latino owned businesses
Préstamos Comerciales Ahora (PCA) is projected to fund more than 200 Latino owned businesses a month with advances ranging from $5,000 to $600,000.
NEW YORK, July 22, 2019 /PRNewswire/ -- Préstamos Comerciales Ahora (PCA www.prestamoscomercialesahora.com), a company solely funding Latino owned businesses, was recently backed by B2B lender Cast Capital for $12.3 million. According to a 2018 report published by Stanford's Graduate School of Business, the Latino business community generates roughly $510 billion in sales annually. However, there is still a shortage of financing options for owners in regards to traditional banking. PCA is committed to aiding in the continuous growth of this market with its new financing programs.
The report also revealed that since 2007 the Latino owned business market has seen a staggering growth of 46% and that and currently represents 12% of all firms in the US. Even though this market has evidently been growing strong, banks and lending institutions commonly have an extensive and somewhat unrealistic list of qualifications needed for their products. The combination of extensive qualification standards from the banks and misinformation on the proper loan application process, has created The Latino Entrepreneurship Gap.
PCA is an alternative and licensed online lender dedicated to shrinking this gap. Their mission is to service Hispanic business owners in the language of their preference, all while contributing to the growth of Latin entrepreneurship in America.
- Provide financing options for Latino owned business to create bridge of opportunity
- Educate owners on how to improve their credit profile and financial status
- Stimulate the ever-growing market of Latino owned businesses
- Create an easy process and excellent service in the language of preference
In the words of Senior Funding Specialist Jennifer Dominguez, "We are committed to helping every single one of the Latino Business Owners to improve their businesses and achieve the American dream."
Additional information can be found at www.prestamoscomercialesahora.com.
Contact: Jennifer Dominguez, Senior Funding Specialist, (877) 496-2434 ext. 203, [email protected]
SOURCE Cast Capital Funding; Préstamos Comerciales Ahora
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