While small business loan applications submitted by Latino entrepreneurs grew 18% in the past year, Latino business owners face significant hurdles in securing financing. They still lag behind in the necessary factors needed to secure financing such as annual revenue, credit scores, age of business and operating expenses.
A study released today by Biz2Credit that analyzed the financial performance of more than 1,000 Latino-owned businesses with less than 250 employees and less than $10 million in annual revenues, found that the:
• Average annual revenue for Latino-owned businesses was $68,540, trailing slightly behind the figure of $70,641 for non-Latino-owned businesses (although an improvement from the previous year) READ MORE AT FORBES
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