The Hispanic American communities are being focused upon as part of a pilot program launched recently. The pilot program is meant to broaden the impact of SBA on Hispanic entrepreneurs. Both the U.S. Small Business Administration and the U.S. Hispanic Chamber of Commerce (USHCC) have joined hands to work together on the pilot program so as to extend help to Hispanic entrepreneurs.
Entrepreneurship opportunities need to be furthered to ensure that a strong economy gets built up. Now, things are being worked upon to help the Hispanic American communities grow. The pilot program is a modus operandi to achieve this very goal. SBA already left a notable impact on Hispanic communities with billion of dollars in loans being granted last year to Hispanic owned businesses. The pilot program is an effort in this direction to do better.
The pilot program will help to broaden the SBA’s outreach efforts and connect Hispanic small businesses with local lenders so that they can grow and create more number of jobs. This will inevitably result in new job growth, build competitiveness and innovation, and strengthen economic recovery and growth.
SBA and the USHCC will also impart education to Hispanic entrepreneurs so that they can work to heighten lending within the Hispanic Business Community. The partnership will further deepen lending activity, small business counseling and will bring awareness about SBA’s programs to Hispanic-owned small businesses. SBA is expecting to achieve the lending target of $1 billion to Hispanic-owned small businesses in 2012.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com