It’s time to promote Hispanic MBLs

first_img continue reading » Credit union interest is growing in offering member business loans, or MBLS, even though strict regulatory limitations still exist. The lending rules are clear, but the amount of MBL dollars available differs based on a credit union’s size and the makeup and performance of its overall loan portfolio.With fewer MBLs available compared to other loans, the ones credit unions do issue should be given to well-performing entrepreneurs with the greatest need, and who can do the greatest good with those funds for their community. In our minds, Hispanic-owned businesses should be top contenders when credit unions make their MBL decisions.Does that surprise you? It shouldn’t. Hispanics are one of the country’s fastest-growing population segments, and also one of its most entrepreneurial. Moreover, loans to Hispanic-owned businesses are being increasingly targeted by banking industry competitors in a way that is frictionless and culturally relevant.A 2018 Gfk Social and Strategic Research study surveyed Hispanic and non-Hispanic business owners about their beliefs and practices. These results may surprise you. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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