Lendinero fills the gap between Latino-owned businesses and the world of Fintech. Lendinero gives access to underbanked Latino businesses, the fastest-growing business segment in the United States. Since 2014, Lendinero has helped Latino-owned businesses obtain over $10 Million dollars.
(PRUnderground) May 3rd, 2019
Latino-owned businesses that have commonly been overlooked by the online lending industry present many opportunities for Latino tech companies who pursue this market niche. Hispanic entrepreneurs are one of the fastest minority groups driving the US economy. Lendinero has been aggressively catering to support this market niche.
Online Lenders Lack Bilingual Staff
Online lenders like lendingclub.com, prosper.com, Lendio.com undoubtedly have made the borrowing market better than ever before. However, many of these platforms do not provide information in Spanish, they don’t have a bilingual staff, and they don’t understand the market. Yet, Latino-owned businesses are increasing the usage of the internet and smartphone devices. Emarketer indicated that 7 out of 10 Latinos owned a smartphone. Furthermore, Latinos are spending 10 hours weekly on the phones as oppose to the nationwide average of 8 hours. Today, most Latinos are bilingual and they are reading in both languages. According to Pew Research Center, about 6 in 10 U.S. adult Hispanics (62%) speak English or are bilingual. Furthermore, the study revealed that 36% are bilingual, 38% mainly use Spanish and 25% mainly use English. Evidently, over 50% of Hispanics, even if they are bilingual speak or read Spanish. The language clearly plays a major role in catering to this segment.
Latino-owned businesses go online
Lendinero has recognized the incredible potential in Latino-owned businesses online. Most Latinos in the United States have turned to the world of entrepreneurship. As a result, Lendinero has developed proprietary technology, digital platforms and a support staff to assist Latinos in accessing alternative business funding for their businesses. In the beginning Lendinero, needed to see merchants face to face via numerous marketing channels to obtain feedback from Latino-owners. Today, Lendinero conducts 100% of its transactions and processes online. The Latino-tech company had to develop processes, systems and online presence to remove barriers from their target market. More important, Lendinero has launched a series of articles, infomercials, and other information in Spanish. Lendinero, has been featured in several Hispanic news mediums in the United States to include; Forbes Latino, El Nuevo Herald (Miami Herald), Negocios Magazines, and other Hispanic publications.
Gil Zapata, founder of Lendinero states, “Latino-owned businesses require more attention than other cultures. This includes Latinos who were born in the U.S. and who speak English fluently. Undoubtedly, Latinos always carry their roots and culture even when they assimilate the American way of life. Understanding this, is very important when targeting this market. In fact, in the beginning many of our clients feared conducting business online. Once we figured out their concerns, we overcame that challenge.”
The future for Latino-owned businesses conducting financial transactions online is ever increasing. Today, one in five U.S. consumers are Latino. Lendinero has developed domain expertise in catering to this market-niche online. Lendinero fills the gap between Latino-owned businesses and the world of Fintech.
Lendinero, is a leading provider of business funding to Minority-owned and Latino-owned businesses. Founded in 2014, Lendinero utilizes its own proprietary automated online loan application platform — available in both Spanish and English. Lendinero acts as an online marketplace and syndicate lender. Today, Lendinero offers a wide range of term loans, lines of credit and invoice financing customized for the needs of small business owners. The company has received 5 star ratings on Google, Trustpilot and other online rating systems. Lendinero has been featured in numerous publications to include: Forbes Magazine, Entrepreneur, Debanked, The Miami Herald (El Nuevo Herald), Negocios Magazines and other major publications. Lendinero is the leading Fintech company that is addressing the needs to Latino-owned businesses in the U.S.
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