IN Latin American Chamber of Commerce of Southeast Wisconsin launches a revolving loan fund to help meet the financial needs of small businesses in the Hispanic community.
The Hispanic Revolving Loan Fund is also supported by Milwaukee Economic Development Corporation, Wisconsin Economic Development Corporation and North Shore Bank, which provide financing and underwriting support.
“Our mission is to strengthen and expand the growth opportunities for Hispanic individuals and businesses in Southeast Wisconsin, so we reached out to our community partners to join us in championing this success with this revolving loan fund,” said Nelson Soler , President and CEO of the Latin American Chamber of Commerce of Southeast Wisconsin. “We look forward to the prosperity of our neighboring businesses with this tremendous support.”
The fund was established in the amount of US $ 150,000 and is accepting bids for the purchase of capital equipment in the amount of US $ 10,000 to US $ 25,000. Members of the Latin American Chamber will be able to apply to participate in the program on the organization’s website. A credit committee composed of contributing partners will determine approvals and needs.
“Our commitment to the Latin American community in Southeast Wisconsin has been an important part of our business for decades,” said Margaret Kapper, senior vice president of commercial banking at North Shore Bank. “We support our neighbors directly through financial education and credit support, and we are also very excited to expand our partnership with the Latin American Chamber of Commerce to provide this support to empower and develop small businesses in the Latin American community.”