The A2C Program is for Spanish-speaking entrepreneurs and last 10-weeks.
PHOENIX, AZ –Latino-owned small businesses face obstacles in accessing the capital they need to grow their businesses. This is revealed by a recent report from the United States Federal Reserve:
• Only 32% of Latino-owned businesses are fully approved for loans, lines of credit, and cash advances.
• Approximately 38% of Latino-owned businesses have unmet financing needs.
• 65% of Latino-owned small businesses are more likely to use personal funds in response to financial challenges.
To help Hispanic entrepreneurs improve their banking relationships, obtain the necessary financing to expand their operations and achieve the economic objectives of their businesses, the Compass CBS Foundation is offering free Access to Capital Program (A2C Program), a free financial accelerator. “Our training programs help advance equitable economic recovery and increase the generational wealth of small business owners in the Latino and African American community, creating a more inclusive economy in the state of Arizona,” says Edgar R. Olivo, Founder and Executive Director of the Compass CBS Foundation.
The A2C Program will help Arizona small business owners understand the steps to qualify for SBA loans and investments, as well as be more financially prepared for future opportunities and in any economic situation. This free financial accelerator lasts for 10 weeks and is only offered in Spanish. During the training, selected Spanish-speaking entrepreneurs will have the opportunity to meet in person with experts for guidance, and will be able to participate in live online webinars.
To be eligible, you must meet the following requirements:
• Be the owner, co-founder or administrator of the company.
• The business must have a minimum of 2 years in operation.
• The business must be based in Arizona.
• Generate a minimum of $100K or more per year.
• The business must be registered with the Arizona Corporation Commission, and have an Employer Identification Number or Tax Identification Number for the business.
The deadline to register is July 12. For more information about the program and to complete an application, visit our programs section. Candidates who do not meet the eligibility criteria for this program will be referred to other resources available in Arizona.
About Compass CBS Foundation:
The Compass CBS Foundation is a 501(c)3 organization focused on developing bilingual resources to help strengthen a diverse, inclusive and sustainable business ecosystem in Arizona. Since 2011, we have helped launch more than 1,700 small businesses in the Latinx community throughout the state of Arizona. In addition, we have had the privilege of serving more than 20,000 business program attendees, and approximately 75% of our program attendees are Spanish-speaking. We believe that everyone has the right to economic well-being and to achieve the American Dream. To learn more about our programs and resources, please visit cccbsfoundation.org.