Latino-Owned Businesses May Be the U.S. Economy’s Best Bet

Style Magazine Newswire | 6/9/2017, 2:04 p.m.
They’re called LOBs for short, but they’re working on a fastball. Latino entrepreneurs are starting small businesses faster than the ...

Source: JPMorganChase.com

They’re called LOBs for short, but they’re working on a fastball. Latino entrepreneurs are starting small businesses faster than the rest of the startup population and becoming a bigger part of the total U.S. market every day. Estimates are that they will make up 29 percent of the U.S. population by 2050, up from 17 percent today. Getting LOBs up to speed won’t be easy: they are either not growing or growing slowly. But nonprofit accelerators are doing all they can to accelerate opportunities, funding LOBs before they’re eligible for conventional financing and helping others figure out how to qualify for commercial loans right away.