After the Great Recession, a group of Hispanic business leaders created the Hispanic Wealth Project™ (HWP). Founded by the National Association of Hispanic Real Estate Professionals (NAHREP®), HWP promotes three key goals for the Latino community:
- Increase homeownership
- Diversify investments
- Grow small businesses
Latino business owner interests and opportunities
The Hispanic Wealth Project promotes the wealth-building potential of business ownership. Self-employed Latino households have, on average, double the wealth of those who aren’t self-employed. The good news? The rate of entrepreneurship among Latinos outpaces other demographic groups. Latino-owned business ownership increased rapidly during the COVID-19 pandemic, when millions of Americans experienced changes in employment. However, raising money remains a roadblock for Hispanic entrepreneurs. This limits opportunities to grow a business and increase wealth.
That’s where lenders like Viva Verde Commercial Capital come in. “Viva Verde Commercial Capital’s big mission is to serve business owners needing small balance lending,” says CEO/Broker Henry Villasenor. “We know what the community is going through because we are part of that community.”
Mr. Villasenor whole-heartedly supports the Hispanic Wealth Project. In fact, he helps support the community as an HWP Angel investor. As Henry puts it, “It’s important to support new ideas and technologies that can help us improve business for all. HWP is a reliable source of fact-based education aimed at helping our communities.”
To learn more about the Hispanic Wealth Project’s mission “to educate and financially empower the Hispanic community nationwide,” visit the HWP website and download the State of Hispanic Wealth Report.