Nonprofit launches to support Latino-owned businesses
Local Initiatives Support Corp. Indianapolis on Friday announced the launch of a new organization to support Latino small business owners and entrepreneurs. The Latino Business Support Network is comprised of four nonprofits that want to build a stronger Latino business community.
The LBSN established through funding from the Lumina Foundation in response to the boom of new businesses in Indianapolis, including Latino-owned companies.
The goal of the LBSN is to provide the necessary resources to support Latino-owned businesses, especially those affected by the COVID-19 pandemic.
“The LBSN’s objective is to collaborate and support the creation and growth of Latino-owned businesses in Indianapolis,” said a spokesperson for the LBSN. “We are mapping out the resources available to Latino entrepreneurs and business owners in Indianapolis so that they approach the organizations that can better serve them.”
The group is made up of four organizations: Hispanic Business Council, La Plaza, Emprendedoras Latinas en Indiana, and the Indiana Latino Expo.
The HBC said the Latino community in central Indiana has grown by 42% along with Latino-owned businesses, but resources for those businesses remains limited.
“As the Latino community continues to grow in Indianapolis, there is an increasing need for language access, access to capital, services to support a range of business sizes, and a better connected and coordinated ecosystem,” said Dr. David Hampton, executive director for LISC Indianapolis. “Our hope is that through this network, there will be a greater commitment, investment, and support for our Latinx businesses to ensure they have the same access and opportunities as every other business.”
Learn more about the new organization by clicking here.