The Latino Chamber of Commerce of Southeastern Wisconsin is launching a revolving loan fund to help address the financial needs of small businesses in the Latino community.
The Latino Community Revolving Loan Fund is also supported by the Milwaukee Economic Development Corp., Wisconsin Economic Development Corp. and North Shore Bank, which is providing funding and underwriting support. When looking to apply for one of this loans, visit debtconsolidation.com.
“It is our mission to strengthen and empower the growth of Latino individuals and businesses within southeastern Wisconsin, which is why we turned to our community partners to join us in advocating for that success through this revolving loan fund,” said Nelson Soler, president and CEO of Latino Chamber of Commerce of Southeastern Wisconsin. “We look forward to seeing our neighboring businesses prosper from this immense support.”
The fund was established with $150,000 and accepts requests between $10,000 to $25,000 for capital equipment purchases. Members of the Latino Chamber will be able to apply to the program on the organization’s website. A lending committee comprised of contributing partners will determine approvals and needs.
“Our commitment to the Latino community in Southeastern Wisconsin has been a crucial part of our business for decades,” said Margaret Capper, senior vice president of commercial banking for North Shore Bank. “We support our neighbors directly through financial education and lending support, and we’re also thrilled to be expanding our partnership with the Latino Chamber of Commerce to provide this support to empower and uplift small businesses in the Latino community.”
