3:13 pm - Tuesday December 18, 8559

SBA Chose Florida to Boost Hispanic Businesses

The Florida State Hispanic Chamber of Commerce will participate to launch a pilot program to increase Hispanic small businesses

LAKE WORTH – The U.S. Small Business Administration collaborated with the U.S. Hispanic Chamber of Commerce (USHCC) to establish a pilot program in Florida to broaden the impact of the agency’s programs among Hispanic entrepreneurs.

The new pilot program between SBA and the USHCC will widen the agency’s outreach efforts and connect Hispanic small business owners and entrepreneurs with local lenders and business counselors to help them grow and create more jobs.

“An economy built to last includes boosting entrepreneurship opportunities in Hispanic American communities,” said SBA Administrator Karen Mills. “The SBA is having a powerful impact in this sector, with a billion dollars in loans to Hispanic-owned businesses last year alone.”

As the only statewide Hispanic chamber, the Florida State Hispanic Chamber of Commerce (FSHCC) will be launching this pilot program across the whole state. This SBA and USHCC partnership will help increase access to lending and counseling for Florida’s Hispanic small businesses, widen participation of small Hispanic-owned businesses in SBA’s procurement programs, and spread awareness of SBA’s programs and services among Hispanic-owned small businesses.

“We are so excited that SBA and the USHCC partnered together to attend the growing Hispanic business community in Florida. Almost a quarter of total businesses in Florida are owned by Hispanic business owners and entrepreneurs,” said Julio Fuentes, FSHCC President and CEO. “FSHCC is proud to have the opportunity to launch this program to all Hispanic businesses owners in the state of Florida.”

As the largest and fastest growing minority population, SBA and USHCC will be helping Hispanic entrepreneurs in Florida achieve their goals through education of business start-up opportunities, and will work to increase lending within the Hispanic business community.

According to the Survey of Business Owners 2007, 22 percent of Hispanics in Florida owned a business. Since 2009, SBA has supported more than 12,000 loans worth $4.4 billion to Hispanic-owned small businesses, with nearly $1 billion in lending in 2012 alone

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