LATINO
ENTREPRENEURSHIP
FUND
Our Latino community is the driving force of California’s economy. Latinos are determined entrepreneurs– accelerating an economic renaissance. Latinos start nearly 1 in 4 of all new companies in America and Latina-owned small businesses are the fastest-growing segment.
We know that when small businesses and entrepreneurs prosper— our families, neighborhoods, and communities thrive. Yet while Latino owned businesses contribute $100 billion to the economy annually, disinvestment and systemic barriers limit their access to capital and support.
It’s time to build an inclusive economy in which investments in the Latino community match our contributions and our drive, and meet the moment.
The Latino Entrepreneurship Fund invests in the immense power and potential of Latino entrepreneurs to advance the economic mobility of our entire community. At LCF, we see the brilliance and ingenuity of our entrepreneurs and are investing in Latino-led nonprofits that support the economic ecosystem in California.
Since 2020, our Latino Entrepreneurship Fund has invested more than $1.6 million in Latino nonprofits working to create an inclusive economy for Latino Entrepreneurs and the Latino small business ecosystem. We are:
Increasing capital to Latina Entrepreneurs in partnership with Latino-led nonprofits who have their connection and trust.
Seeding and establishing community-led institutions that can provide accessible funding to Latinapreneurs, like Community Development Financial Institutions, Latino Social Ventures, and non-profits.
Shaping and amplifying the narrative of Latinapreneurs as the powerhouse and driver of the economic renaissance we need.
Leveraging the largest Latino donor network in the nation through LCF’s Latino Giving Circle Network by launching the Latino Entrepreneurship Giving Circle which mobilizes resources to Latinapreneurs.
Together, we will lead not just a recovery, but a renaissance that reshapes the economy and rewrites our collective future.
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LATINO ENTREPRENEURS OUTPACE ALL OTHERS!
Growth of Latina-Owned Businesses
since 2007. (1)
Jobs are sustained nationally through Latino business and 650,000 jobs are created in California. (2)
Latino Owned Businesses
contribute over $800 billion to our national economy annually. (3)
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HOWEVER LATINO SMALL BUSINESSES AND ENTREPRENEURS ARE LOCKED OUT OF MAINSTREAM CAPITAL
Many Latinos face barriers navigating banking systems, receiving loans, formalizing or scaling their operation due to language barriers, immigration status, prejudice within traditional financial institutions, and limited technical support. That means:
Of Latino-Owned Businesses
Use personal savings or credit cards to start up their businesses. (4)
Lower odds of
receiving loan approval for Latino-owned businesses.(5)
Nationally and $451B California opportunity gap that could be created if Latino businesses had equitable access to capital and support. (6)
The Latino Entrepreneurship Initiative invests in the immense power and potential of Latino entrepreneurs to advance the economic mobility of our entire community. Our organizational partners are trusted community institutions who show vs tell how they are solving the problem.
Together we are building a movement.
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EL PODER EVENT 2024
This year marks the first time California Forward’s Economic Summit has partnered with the Latino Community Foundation for a Hispanic Heritage Month celebration, “El Poder Latino.” The growing Latino population in California means that the economic well-being of both Latinos and the state are more interconnected than ever. We are deeply grateful to Google for their generous sponsorship, helping us elevate this important conversation and celebrate the power of the Latino community.
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IN THE NEWS:
SVBJ: Nearly 25% of all Latinx-owned businesses are in California, but they’re 91% less likely to get loans
Making It In The Bay: Max Vargas, VP of Economic Justice, on record inflation and its effect on Latino families in the Bay Area
NBC Bay Area: interviewed Max Vargas, VP of Economic Justice, on record inflation and its effect on Latino families in the Bay Area
Fresno Bee: interviewed Max Vargas about his new LCF role as the VP of Economic Justice
NBC Bay Area: SF Nonprofit Announces $1M Grant for Latino-led Small Businesses
KSBW.COM: Central Coast Latino organizations earn grants to help Latino entrepreneurs
It’s time to unleash the power and brilliance of Latino entrepreneurship. Join us today!
Email Veronica Vences (vvences@latinocf.org) for more information today.
(1) – Legal Zoom: How Female Hispanic Business Owners Are Fueling the Economy
(2) – California for All | Nationally – SBA: https://www.sba.gov/about-sba/organization/observances/hispanic-heritage-month
(3) – SBA: https://www.sba.gov/about-sba/organization/observances/hispanic-heritage-month
(4) – SBA: https://www.sba.gov/about-sba/organization/observances/hispanic-heritage-month
(5) – Hispanic Wealth Project – 2021 State of Hispanic Wealth
(6) – Nationally According to Mckinsey report 2021: The economic state of Latinos in America: The American dream deferred