{"id":141057,"date":"2024-12-02T18:44:24","date_gmt":"2024-12-02T17:44:24","guid":{"rendered":"https:\/\/efecomunica.efe.com\/?p=141057"},"modified":"2024-12-02T19:26:49","modified_gmt":"2024-12-02T18:26:49","slug":"new-financial-proposals-for-latino-entrepreneurs-in-the-united-states","status":"publish","type":"post","link":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/","title":{"rendered":"New financial proposals for Latino entrepreneurs in the US"},"content":{"rendered":"

Miami, Dec 2 (EFE).- The percentage of businesses created by\u00a0Latin Americans<\/strong>\u00a0in the United States surged from\u00a025% to 36%<\/strong>\u00a0between 2019 and 2023, according to a\u00a0University of California analysis<\/strong>\u00a0of\u00a0U.S. Census data<\/strong>. This growth trend persisted into\u00a02024<\/strong>, despite persistent challenges, particularly in accessing the\u00a0financial system<\/strong>. Banks are now offering\u00a0tailored solutions<\/strong> to help the Latino demographic continue doing business.<\/p>\n

EasyBank: Supporting Latino Entrepreneurs<\/h3>\n

\u201cWe are targeting\u00a0Latin America<\/strong>. We want\u00a0Latin Americans<\/strong>\u00a0to feel they have a bank that can support them in their\u00a0U.S. business endeavors<\/strong>,\u201d said\u00a0Carlos Romero<\/strong>, CEO and president of\u00a0EasyBank<\/strong>, in an interview with\u00a0EFE<\/strong>. Romero emphasized that the bank\u2019s expertise enables it to identify the most pressing needs for\u00a0Latinos<\/strong>: the ability to\u00a0easily open a U.S. bank account<\/strong>\u00a0from their home countries.<\/p>\n

\u201cWhen you think about opening a bank account in the U.S., you first need to get a visa, then cover travel expenses to Miami, open the account, but after that, no one will assist you,\u201d Romero explained. \u201cWe can provide\u00a0direct support<\/strong>\u00a0to all these countries. I believe that\u2019s a\u00a0big advantage<\/strong>.\u201d<\/p>\n

\"Photo
Photo provided by EasyBank of Carlos Romero, CEO and president of EasyBank, in Miami (United States). EFE\/EasyBank<\/figcaption><\/figure>\n

Challenges for Latino Businesses in the U.S.<\/h3>\n

One of the biggest hurdles\u00a0Latin Americans<\/strong>\u00a0face in the U.S. is\u00a0access to the financial system<\/strong>, whether due to\u00a0language barriers<\/strong>\u00a0or difficulties entering the country. Securing\u00a0credit<\/strong>\u00a0is often more challenging for\u00a0Latin-owned businesses<\/strong>\u00a0compared to those established by U.S. citizens.<\/p>\n

Despite these challenges,\u00a0Latin-owned businesses<\/strong>\u00a0have shown remarkable growth. The\u00a0National Minority Supplier Development Council (NMSDC)<\/strong><\/a>\u00a0reported a\u00a050% increase<\/strong>\u00a0in total revenue for these businesses between 2020 and 2023, reaching\u00a0$114 billion annually<\/strong>, underscoring their market potential.<\/p>\n

\u201cLatin Americans continue to persevere despite the challenges of being migrants,\u201d Romero said. \u201cIt\u2019s easy to open an account [in the U.S.], but everything that comes after is far more complicated, such as\u00a0financing<\/strong>,\u00a0issuing credit cards<\/strong>,\u00a0cash management<\/strong>, and\u00a0payments<\/strong>.\u201d<\/p>\n

Inclusion in the Financial System<\/h3>\n

EasyBank\u2019s research has identified the groups most in need of support to enter the\u00a0U.S. financial system<\/strong>, including:<\/p>\n

    \n
  • Small business clients<\/strong><\/li>\n
  • Shareholders of enterprises<\/strong><\/li>\n
  • Key executives<\/strong>\u00a0such as managers and administrators<\/li>\n<\/ul>\n

    Romero noted the diversity across Latin America and highlighted three promising markets:\u00a0Argentina, Peru,<\/strong>\u00a0and the\u00a0Dominican Republic<\/strong>.<\/p>\n

    \u201cWe like\u00a0Argentina<\/strong>.\u00a0Peru<\/strong>\u00a0is also a market we\u2019re very interested in, and the\u00a0Dominican Republic<\/strong>\u00a0is fascinating. Its economy has impressive numbers, and there\u2019s so much to do and so many people to assist there,\u201d Romero remarked.<\/p>\n

    EasyBank\u2019s Streamlined Approach<\/h3>\n

    Previously known as\u00a0BanPlus International Bank<\/strong>, EasyBank has undergone a\u00a0rebranding strategy<\/strong>\u00a0to modernize and simplify banking processes for its clients.<\/p>\n

    \u201cThis rebranding strategy is about\u00a0renewal, modernization,<\/strong>\u00a0and\u00a0updating<\/strong>. It aims to position us as a fresh brand with a clear concept of\u00a0making things easier<\/strong>\u00a0for our customers,\u201d Romero explained.<\/p>\n

    EasyBank plans to enhance its\u00a0digital platforms<\/strong>, enabling clients to complete most processes online. Additionally, the bank will travel across the Americas to better understand the needs of\u00a0small business owners<\/strong>, develop tailored products, and potentially establish a\u00a0physical presence<\/strong>\u00a0in the future. EFE<\/span><\/p>\n

    This content was produced with the collaboration of EasyBank.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    Miami, Dec 2 (EFE).- The percentage of businesses created by\u00a0Latin Americans\u00a0in the United States surged from\u00a025% to 36%\u00a0between 2019 and 2023, according to a\u00a0University of California analysis\u00a0of\u00a0U.S. Census data. This […]<\/p>\n","protected":false},"author":198164071,"featured_media":141058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[123771,127474],"tags":[],"class_list":["post-141057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-finance"],"acf":[],"yoast_head":"\nNew Financial Proposals for Latino Entrepreneurs in the US - EFE Comunica<\/title>\n<meta name=\"description\" content=\"Financial institutions like EasyBank are creating tailored solutions for Latino entrepreneurs in the U.S.,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"New Financial Proposals for Latino Entrepreneurs in the US - EFE Comunica","description":"Financial institutions like EasyBank are creating tailored solutions for Latino entrepreneurs in the U.S.,","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/#article","isPartOf":{"@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/"},"author":{"name":"EFE","@id":"https:\/\/efecomunica.efe.com\/#\/schema\/person\/38c335f1ce4cd42430576ef5499343b8"},"headline":"New financial proposals for Latino entrepreneurs in the US","datePublished":"2024-12-02T17:44:24+00:00","dateModified":"2024-12-02T18:26:49+00:00","mainEntityOfPage":{"@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/"},"wordCount":556,"publisher":{"@id":"https:\/\/efecomunica.efe.com\/#organization"},"image":{"@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/#primaryimage"},"thumbnailUrl":"https:\/\/efecomunica.efe.com\/wp-content\/uploads\/2024\/12\/rss-efe02d746fa79a506940c74bdd00c6b2ce0e257ee1bw.jpg","articleSection":["Economy","Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/","url":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/","name":"New Financial Proposals for Latino Entrepreneurs in the US - EFE Comunica","isPartOf":{"@id":"https:\/\/efecomunica.efe.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/#primaryimage"},"image":{"@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/#primaryimage"},"thumbnailUrl":"https:\/\/efecomunica.efe.com\/wp-content\/uploads\/2024\/12\/rss-efe02d746fa79a506940c74bdd00c6b2ce0e257ee1bw.jpg","datePublished":"2024-12-02T17:44:24+00:00","dateModified":"2024-12-02T18:26:49+00:00","description":"Financial institutions like EasyBank are creating tailored solutions for Latino entrepreneurs in the U.S.,","breadcrumb":{"@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/efecomunica.efe.com\/en\/new-financial-proposals-for-latino-entrepreneurs-in-the-united-states\/#primaryimage","url":"https:\/\/efecomunica.efe.com\/wp-content\/uploads\/2024\/12\/rss-efe02d746fa79a506940c74bdd00c6b2ce0e257ee1bw.jpg","contentUrl":"https:\/\/efecomunica.efe.com\/wp-content\/uploads\/2024\/12\/rss-efe02d746fa79a506940c74bdd00c6b2ce0e257ee1bw.jpg","width":1278,"height":1920,"caption":"Photo provided by EasyBank of Carlos Romero, CEO and president of EasyBank, in Miami (United States). 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