18 Business Loans and Grants for Hispanic-Owned Businesses
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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Qualifies as a Hispanic-Owned Business?
What Is a Minority Business Loan?
Alternative Business Loan Options for Hispanic Business Owners
1. Accion
2. CDFI
3. Camino Financial
4. SBA
Microloans
Community Advantage Loans
5. Kiva
6. CDC Small Business Finance
7. Grameen America
8. LEDC
LEDC Growth Loan: Loan amounts up to $250,000 for established small businesses that have been in operation for a minimum of two years. LEDC Startup Loan: Loan amounts up to $20,000 for new businesses with less than two years of business history. LEDC Seed Loan: Loan amounts up to $5,000 for businesses with less than one year of experience and with plans to launch a company within three months of funding.
9. NALCAB
Grants for Hispanic and Latino Business Owners
10. Grants.gov
11. digitalundivided
12. NASE
13. USDA Rural Development Grants
14. SBIR and STTR
15. Candid.org
16. Comcast RISE
17. Entrepreneurial Spirit Fund by SIA Scotch
18. Amber Grant
Other Resources
digitalundivided
Minority Business Development Agency
USHCC
SCORE
Tips for Getting a Business Loan
Consider Your Options
Determine How Much Money You Need
Consider the Best Location for Your Business
Gather All Your Paperwork
Business EIN Industry Entity type Business license and permits Annual business revenue and profit Bank account statements (personal and business) Personal and business tax returns Balance sheet Proof of collateral Accounts receivable and payable reports Existing debt Commercial lease Purpose of the loan/grant Business plan
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