The U.S. Small Business Administration and the U.S. Hispanic Chamber of Commerce are teaming on a pilot program in four U.S. cities — one of which is Nashville — to broaden the impact of the agency’s programs among Hispanic entrepreneurs.
Nashville Area Hispanic Chamber of Commerce officials recently returned from the 33rd annual U.S. Hispanic Chamber of Commerce National Convention in Los Angeles, at which the announcement of the partnership was announced.
“We are very encouraged and gratified to be a part of this worthwhile effort in Tennessee,” Yuri Cunza (pictured), president and CEO of the NAHCC, said in a release.
The aim of the partnership is to help increase access to lending and counseling for Hispanic small businesses and widen participation of small Hispanic-owned businesses in SBA’s procurement programs.
“The national alliance will help to forge stronger relationships between our Tennessee SBA District Office and the Nashville Hispanic Chamber," Walter Perry, SBA Tennessee District director, said in the release. "It will strengthen efforts to help even more Hispanic-owned small firms succeed, and expand the reach of SBA’s program and services in the Metropolitan Nashville area."
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. Spanning the same period, SBA has trained and counseled more than 532,000 Hispanic-owned small businesses through its network of district and field offices, and resource partner network, including Small Business Development Centers, Women’s Business Centers and SCORE. SBA also has helped Hispanic-owned businesses secure $32.7 billion of prime contracts from the federal government, providing a major revenue base.
In addition to Nashville, the pilot partnership will launch citywide programs with Hispanic chambers in Austin and El Paso, Texas as well as Philadelphia. Statewide programs will be undertaken in California, Florida, Ohio and Utah.