260+ Individual ConsultationsIndividuals received coaching regarding starting and growing a business, accessing credit, Covid 19 Relief
funding, financing, budgeting, and filing taxes etc. |
175 Returns Filed since 2020In partnership with United Way of Southeast
Louisiana, we served as the only volunteer income tax assistance site dedicated solely to serving the Spanish speaking community within 90 miles of the Greater New Orleans Area. |
Hispanic Entrepreneurship in New OrleansThe Hispanic community in New Orleans has grown significantly in the past decade, but entrepreneurs face a number of barriers when it comes to accessing business support resources. However, there is an opportunity for organizations to intervene and provide resources, including organizations like El Centro which offers Spanish language financial literacy and business coaching... Read More
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Effects of Covid 19 Impact on Hispanic Entrepreneurs In El Centro’s independent assessment of 60 entrepreneurs, 28% experienced a business closure and 73 % reported losing work.
22% of the businesses surveyed had applied for a PPP loan and 8.3 % received one. 86% of the businesses were interested in financing, but 42% did not know where to start and 38 % did not know if they were eligible for federal relief funding. |
Additionally, 58% of the entrepreneurs reported being unable to cover essential mortgages; 35% were unable to adequately afford food; and 45% said their children’s education had been harmed by the pandemic.
These findings demonstrate the impact of COVID-19 among Latinx entrepreneurs in New Orleans, on their work, businesses, and households, and highlights barriers to accessing capital and other resources necessary to achieve the stability needed to recover from the effects of the pandemic. |
