Latinos are bringing vitality to local economies across the country. To celebrate this impact for Hispanic Heritage Month, NALCAB is excited to share a series of interviews with our members. These interviews have been edited for length and clarity.

NALCAB Senior Membership Manager Lexi Castillo spoke with Jose Venales, Director of Credit + Lending, The Iowa Center for Economic Success: 

NALCAB: What does Hispanic Heritage Month mean to you and your organization?

JV: For The Iowa Center, this month is a powerful reminder and reaffirmation of our mission as a Community Development Financial Institution (CDFI). We are committed to serving Iowa’s diverse business community, and Hispanic Heritage Month gives us an opportunity to celebrate the incredible contributions of Latino entrepreneurs to our state’s economy. It underscores our responsibility to ensure that capital and opportunity are accessible to all, and it energizes our work to empower the next generation of Latino business leaders who are strengthening our communities.

Personally, as someone originally from Venezuela, Hispanic Heritage Month is a deeply personal time for reflection and celebration. It’s a chance to honor the journey, the resilience, and the rich cultural fabric that shapes who I am. It’s a moment to celebrate the entrepreneurial spirit and community-focused values that I was raised with.

NALCAB: How has your Latino culture helped shape your professional career?

JV: It’s the cornerstone of my professional identity.

It has instilled in me a profound sense of community and the belief that we rise by lifting others. This community-first mindset is what drove me to build The Iowa Center’s loan fund from the ground up—to create a system of support and access for those who, like many immigrants, possess incredible talent but face barriers to traditional financing.

My journey from Venezuela has given me a unique perspective and empathy for the challenges entrepreneurs face. I don’t just see a loan application; I see a family’s dream, a community’s future, and a person’s determination to build something lasting. This holistic view, rooted in my cultural values, has shaped my entire approach to economic development, blending financial acumen with a deep commitment to creating sustainable opportunities for everyone.

NALCAB: Latinos are contributing to the U.S. GDP at a historic rate, equal to the output of countries like the UK and France – what can organizations like NALCAB and yours do to continue building upon this momentum for future generations of US Latinos.

JV: This incredible economic output highlights a powerful truth: investing in the Latino community is investing in the growth and prosperity of our entire nation. To continue building on this momentum, our organizations must pursue a dual strategy of capital access and capacity building.

At the local level, organizations like The Iowa Center must act as the boots on the ground. Our role is to:

• Deploy capital creatively: We must continue designing flexible, character-based loan products that meet entrepreneurs where they are.

• Provide deep technical assistance: A loan is only a tool. We must surround our entrepreneurs with the coaching, financial education, and strategic guidance they need to not just launch, but to thrive and build generational wealth.

• Build trust: We must be a trusted partner and a reliable bridge to the wider financial ecosystem for our communities.

At the national level, an organization like NALCAB is essential for creating systemic change. NALCAB’s role is to:

• Advocate for policy: Champion federal and state policies that support CDFIs and the small businesses we serve.

• Aggregate and channel capital: Attract investment from national partners and direct it to community-based organizations that have the local expertise to deploy it effectively.

• Strengthen the network: Provide the training, resources, and collaborative platforms that allow organizations like mine to scale our impact.

Click here to learn more about the Iowa Center’s impact.