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Small Business Development Small business development is an important path to wealth creation and small businesses in their first five years are credited with being the primary source of net job creation in the United States. For Latinos, entrepreneurship has been a critical strategy for balancing the distribution of assets for Latino families, and has been a driver of the national economy. NALCAB supports member organizations in Latino communities across the country to reduce barriers to entry, promote access to capital, and facilitate the creation of commercial corridors, incubators and mercados. Click here to learn more about our Small Business Development program. Financial Capability Culturally and linguistically relevant financial capability programs are crucial for unlocking economic potential for Latinos and other diverse communities of color. Individuals who are new to the U.S. financial system and those who have limited English proficiency face barriers to conducting basic financial transactions, building a credit history, accumulating savings, and accessing credit on fair and affordable terms. To address these realities, NALCAB works with members to create and strengthen Financial Capability programs that build knowledge and access to resources that allow consumers to understand credit and credit scores, access financial services and products, and avoid…
Special Initiatives
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Special Initiatives Rent Reporting Pilot Project In 2017, NALCAB launched a pilot project to build the credit and financial capability of tenants in affordable rental housing communities that are owned/operated by Latino-serving non-profit institutions. The pilot design built on previous work on rent reporting by the Credit Builders Alliance (CBA). CBA convincingly made the case that, “unlike homeowners, renters do not ‘get credit’ on their credit report for making their monthly housing payments. 45% of individuals in low-income neighborhoods are ‘credit invisible’ or ‘unscorable’. Many have few opportunities to build credit history which directly impacts their ability to get and stay ahead in today’s economy.” NALCAB believed this promising practice could have a particular benefit in LMI Latino communities due to the high percentage of households with thin credit and no-credit. NALCAB provided grants, technical assistance, and training to owner/operators of multifamily rental housing that already had existing resident services infrastructure in order to build their capacity to provide best-practice-based, culturally-relevant financial capability services and to implement rent reporting to credit bureaus. This ongoing pilot project has provided compelling initial evidence that rent reporting has a more significant impact than financial capability services alone. If you are interested in learning…
National Training and Webinars
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NALCAB’s National Training offers three distinct courses: Equitable Neighborhood Development, Small Business Development and Financial Capability and Capacity Building. The training provides 20+ hours of culturally-relevant training to more than 150 nonprofit practitioners who work in low-to-moderate income communities. Participants are exposed to replicable best practices, linguistically-relevant curricula, leading industry experts, and emerging innovations. NALCAB’s National Training will be held this Fall in San Antonio, Texas. The Equitable Neighborhood Development course is designed to assist public and private sector practitioners with identifying and influencing the impact of capital flow into communities. This track is for practitioners who acknowledge the importance of local context and see community-driven solutions. The Financial Capability course is designed to assist participants in implementing culturally-relevant curriculum; developing financial coaching skills tailored to the needs of their community; identifying and helping clients utilize safe, affordable and proactive financial products and services; and recognizing the opportunities to influence financial capability policies on a local and national level. The Small Business Development course will focus on unlocking the economic potential of Latino entrepreneurs, while minimizing the impact of cultural barriers they face to growing and sustaining their businesses. This track is designed for practitioners in the small business development…
Pete Garcia Fellowship
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Established in 2010, the NALCAB Pete Garcia Community Economic Development Fellowship was created to address the growing leadership gap in non-profit community economic development organizations serving low- and moderate-income Latino communities. The program was developed to ensure that next generation Latino leaders build the practical, personal, and professional skills needed to fill the increasing leadership gap in the community economic development field. NALCAB is the only national organization that has developed culturally-relevant curricula and training methods specifically aimed at building the capacity of Latino-serving community development and asset building practitioners. The curriculum is specifically designed to help practitioners become more effective leaders through leadership development, technical training, and the facilitation of peer networks. Click here to meet the 2019 Pete Garcia Fellows. Applications for the 2020 Fellowship will open in November 2019.
Advisory Services
Impact Investing
Lending
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NALCAB began lending activity in 2015. NALCAB engages in intermediary lending to small business lenders (including CDFIs and aspiring CDFIs) with the goal of supporting the growth of their lending to Latino business owners. NALCAB also provides secured and unsecured loans to affordable housing developers, including acquisition, pre-development, construction and bridge financing. In June 2019, NALCAB was certified as a Community Development Financial Institution (CDFI). As a CDFI, NALCAB is better able to leverage its strong existing brand and track record to raise capital from a wide range of philanthropic, corporate and governmental sources to then invest consistent with the mission, goals and activities described above. In order to meet the capital needs in the communities it serves, NALCAB has developed its capacity to engage in lending and equity investment activity by forming and managing a controlled social investment fund. NALCAB lends to non-profit organizations that promote economic mobility in Latino communities by building affordable housing, investing in small businesses and strengthening family financial capability. Geographic areas served are primarily economically distressed, predominantly Latino, low- and moderate- income communities that lack adequate access to financial products. NALCAB’s investments of financial products are made through borrowers or investees that serve the…
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December 2020
Dec 09-Dec 10
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NALCAB, Public Citizen, CRL Sue to Restore Payday Lending Protections for Borrowers
NALCAB Hosts Virtual Latino Policy Summit to Explore Priority Issues, Solutions for Nation’s Economic Recovery
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