NALCAB and Partners to Create Inversiones: A $70 Million CGI America Commitment...

NALCAB and Partners to Create Inversiones: A $70 Million CGI America Commitment to Action For Latino Small Businesses



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SAN ANTONIO, Jan. 29, 2013 /PRNewswire-HISPANIC
PR WIRE/ — A new Clinton Global Initiative America Commitment to Action
has been announced, which will catalyze $70 million in investment in small
businesses and community-based small business districts from NALCAB –
National Association for Latino Community Asset Builders
, Valley Economic
Development Center
, Accion Texas, Inc., Chicanos Por La Causa,
Inc.
and a national network of nonprofits that provide small business
lending and development services in predominately Latino
communities. Collectively, this consortium will create 4,000 jobs by supporting
the start-up or expansion of 1,500 small businesses in predominately Latino
communities by undertaking the following activities:

 


(Photo:


http://photos.prnewswire.com/prnh/20130129/DC48116-INFO

)

 

  • Provide culturally and
    linguistically relevant small business development services to 5,000 small
    business owners and entrepreneurs;

  • Complete $50 million in
    small business lending (loans above $50,000);

  • Leverage $15 million in
    financing for economic development projects in neighborhood-based small
    business districts;

  • Provide training and
    technical support to 200 non-profit practitioners to advance the readiness
    of specific entrepreneurship-related programs and projects.

 

“Latino entrepreneurs are an important pillar in
the U.S. economy and a key to ongoing economic recovery. Our Commitment to
Action to CGI America will generate small business growth, create jobs and
galvanize the momentum that NALCAB’s Latino Entrepreneurship Program started in
2011” stated Noel Poyo, Executive Director of NALCAB.

 

Para
leer este comunicado de prensa en espanol, visit

http://www.nalcab.org/press
.

 

About NALCAB: NALCAB- The National Association for
Latino Community Asset Builders is a San Antonio based membership organization
that represents and serves over 90 members that are a geographically and
ethnically diverse group of nonprofit community and economic development
organizations that are anchor institutions in our nation’s Latino communities.
NALCAB’s mission is to build financial and human assets as well as real estate
and technology resources for Latino families, communities, and organizations.
For additional information, visit NALCAB’s press room or go to

http://www.nalcab.org

 

About NALCAB’s Latino Entrepreneurship Program:
NALCAB’s National Latino Entrepreneurship program was created to invest in
the expansion and coordination of small business assistance programs in
predominantly Latino communities across the country. The grants awarded may also
support housing development and/or building family assets.  Read more.
Learn
more:

http://www.nalcab.org/EntrepreneurshipProgram

 

About CGI America

President Clinton established the Clinton Global Initiative America (CGI
America) to address economic recovery in the United States. CGI America brings
together leaders in business, government, and civil society to generate and
implement commitments to create jobs, stimulate economic growth, foster
innovation, and support workforce development in the United States. Since its
first meeting in June 2011, CGI America participants have made more than 160
commitments valued at $12.8 billion when fully funded and implemented. To learn
more, visit

http://www.cgiamerica.org

 

About VEDC: VEDC is the largest nonprofit small
business lender headquartered in metro Los Angeles and offers direct micro and
small business loans as well as SBA 7(a) and SBA 504 loans. VEDC has a $23
million loan portfolio and over $50 million under management and originates
loans totaling more than $40 million annually to businesses locally and
statewide. With seven locations throughout the Los Angeles area and San
Francisco, VEDC has supported the small business owner for 36 years with the
goal of creating and sustaining jobs and businesses by providing high-quality
economic development services. For more information visit

http://www.vedc.org

 

About Accion Texas Inc.
: Established in
1994 in San Antonio, Accion Texas Inc.’s financial and business-support services
help entrepreneurs strengthen their businesses, stabilize and increase their
incomes, create employment and contribute to the economic revitalization of
their communities. Accion Texas Inc. has the nation’s largest microlender
portfolio and is committed to providing capital to entrepreneurs who do not have
access to loans from commercial sources. Since its inception, Accion has made
13,000 loans totaling $130 million. Accion operates in eight states – Alabama,
Arkansas, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas. To
learn more about Accion Texas, go to

http://www.acciontexas.org

 


About CPLC:

 Chicanos Por La Causa, Inc.

(CPLC) is a community development corporation
(CDC) that provides services in Arizona, Nevada, and New Mexico. Since 1969,
CPLC has been changing lives by developing self-sufficiency and instilling
empowerment in those we serve. Our focus areas are economic development,
education, housing, and social services. CPLC provides a better life through
offering business and employment opportunities; ensuring everyone has the solid
foundation of an education; providing hope through a pathway of recovery and
restoration; and ensuring that a safe, secure, affordable home is available to
every individual we serve. Today, we have 34 programs & services, 800 employees,
and 60 offices, making CPLC the fourth largest Hispanic CDC in the nation and
the leading Cultural and Educational CDC and nonprofit in Arizona.

http://www.CPLC.org

 

CONTACT: Hilda Bustos
(210)227-1010

hbustos@nalcab.org

 

SOURCE  NALCAB

NALCAB and Partners to Create Inversiones: A $70 Million CGI America Commitment to Action For Latino Small Businesses