The $7 million Neighborhood Trust Federal Credit Union was one of several lenders that provided financing to more than 100 Hispanic business owners during a recent entrepreneurial fair in New York.
The NYC Business Solutions Financing Fair, held in Manhattan, paired business owners with traditional and alternative lenders. City officials said the fair is one of several initiatives to increase services to businesses in New York including to the more than 130,000 Latin-owned businesses that account for $8.7 billion in receipts and annual payrolls of $250 million each year, according to the New York City department of small business services' Web site.
The city plans to create a business solutions satellite office in Washington Heights, launch of an online directory of Hispanic businesses, provide seminars on the availability of services and more access to free legal assistance.
In addition to New York-based Neighborhood Trust FCU, Grameen America, Banco Popular, Chase, Wachovia/Wells Fargo, Citibank and Capital One participated in the financing fair.