In this month's edition of Hispanic Business Magazine, Tom Castro states that "the only thing lacking in the Latino business community is access to capital".Castro's latest venture, Border Media Partners, is the largest privately owned Hispanic-focused radio company in the country and the best capitalized Hispanic start-up company in history. Border Media raised more than $275 million in its first 30 months.
Castro mentions the New America Alliance which was created in 1999 to focus on increasing access to markets and capital for Latino businesses. One of the big events organized by the New America Alliance is an annual fall Wall Street Summit which brings together finance leaders from Wall Street to Main Street to find ways to increase the human and financial capital available to Hispanic business.
I think the message is getting through. In just the last few weeks, I've written about a private equity source focused on the Hispanic market place, a loan program focused on minorities including the Hispanic marketplace, and the growth of new banks focused on ethnic groups including Latinos. In five years or less, access to capital for Hispanic businesses may be an issue of far less significance.
If your business needs help finding the right lender or telling your story the right way, read "Matchmaking for Business Loans" and give me a call!
Related Tags: Hispanic, access to capital, Tom Castro, Border Media Partners, business loans, capital, New America Alliance, private equity
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