Roughly 33 percent of Latino entrepreneurs are younger than 45, compared to just 22% of non-Latino entrepreneurs. For every 100,000 Latino adults in the United States, on average 510 became entrepreneurs each month in 2018.
Diane Haro, left, and Herminia Cervantes both wait for a customer to pick up their order at Tortas Al 100 on Feb. 08, 2020.While revenues climbed, though, the average credit scores of Latino business owners dipped to 588 from 594 last year, according to Biz2Credit. "By and large, I think Latinos are very unsuccessful in securing loans from the more professional sources," said Porras. "It's the smaller ones that are hurting the most," added Porras, referencing business size.
She ended up borrowing nearly $30,000 from friends, family, and coworkers, slowly paying them back one by one. I do think that Latinos can contribute more to this country if they give us the same opportunity to better ourselves and our children. I think we all want to progress, but they don't give us the same tools they give someone who was born here.Later, when Ibarra tried to purchase a home in 1996, her low credit still held her back. There was, however, another way, the realtor told her.
The lender advised those borrowers of color to take out risky sub-prime loans, even when they qualified for prime loans, or simply charged them higher rates. Fausta Ibarra, 59, owner of Tropical Cuts Beauty Salon in Salinas, California, brushes a customer's hair on Feb. 7, 2020, as the customer talks about her daily routine.According to the 2019 Stanford report, Latinos get loans from local banks at a much higher rate than they do from national banks.
In Salinas, a small city surrounded by rich agricultural land, U.S. Census Bureau data shows 78.7% of the some-156,000 residents are Hispanic or Latino. While the city’s agricultural industry thrives financially, thanks to the tens of thousands of Latino farmworkers that flow in and out of Salinas every year, the average farmworker takes home just $17,500 a year, according to the U.S. Department of Labor. More than 17% of its residents live in poverty.
Her parents, Graciela and Gildardo, worked in fields after immigrating to the U.S. from Guanajuato, Mexico. Every month or so, they would go to Los Angeles, five hours away, to stock up on Mexican candy, piñatas and cassette tapes, Garcia said. Then, they would turn around and sell them at the Santa Cruz weekend flea market in central California, dragging their children with them.
Thank you realDonaldTrump
The backstory:
Not possible. This racist, bigoted administration hates brown people and would never allow them to succeed, especially more than white people...
Viri_Rios mira. Estos malditos neoliberales ¿como se atreven a querer una mejor vida para ellos y sus familias?
Depends on the biz and where.
At least they're doing something useful other than socializing on the streets collecting information to have everyone in a problem with everyone else. Please keep them like that. If those guys went socialism....you're all in danger. 😂😂😂😂😂😂😂😂😂😂😂
Trump2020
So...you mean brown people aren’t coming from South of the border to take our jobs? They’re....theyre...creating their own?
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