Lendinero, a leading small business finance provider to minorities, announces new funding options for Latino-Owned businesses (LOBs). Lendinero is working in tandem with numerous lenders to facilitate Paycheck Protection Program (PPP), Economic Injury Disaster Loans (EIDL), business lines of credit, and term loans. Lendinero, offers an online platform and agent support in English and Spanish.
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Without a doubt, the second stimulus package will help out many Latino businesses across the nation. According to Global Strategy Group, just 12% of black and Latino businesses who applied for PPP (Paycheck Protection Program) loans reported receiving what they asked for. Today, over 4 million Latinos are at risk of bankruptcy, as their businesses remain at risk.
“While we’re seeing some progress with allocating these funds to Latino-Owned businesses, we know that PPP and EIDL funding may not be enough to save these companies,” said CEO of Lendinero Gil Zapata. “We have customers that have utilized the money they received from the government stimulus package and they still need more capital to keep their businesses running. As a result, we are providing multiple funding options to get the support they need.”
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In 2020, Lendinero was among the first fintech companies to support the first round of PPP and EIDL funds to Latino-Owned Businesses. Customers were extremely satisfied with their PPP and EIDL experience and the company will continue to focus on the best possible customer experience.
