Latina Businesses Hit Hard By Financial Losses During COVID-19

July 22, 2020 Author: Mario X. Carrasco

Before the pandemic, Latina owned businesses were among the fastest-growing in the United States. Now, many are facing the threat of permanent closure.

Access to funding continues to plague Latino business owners, as 91% were unable to obtain funds from the federal government’s Paycheck Protection Program. Hispanic women-owned businesses, in particular, are absorbing the lion’s share of these financial losses, as they make up the majority of microbusinesses within this demographic.

Lucy Flores, CEO and Co-Founder of Luz Collective, joins us on The New Mainstream podcast to discuss the unique challenges Latina business owners face and how COVID-19 has impacted their viability.