Posted by: Ann Corcoran | September 9, 2011

Hispanic businesses in Maryland: Waahhh! We need more money

Here is an article from the Gazette that helps explain to Maryland citizens how ETHNIC businesses can out-compete American citizen businesses (where the owner isn’t some member of a politically correct ethnic group).   I say where is the special government lending geared to Germanic Americans, or how about Polish Americans, or British Americans?

From the Gazette (hat tip: Cathy):

Hispanic businesses in Maryland continue to make strides, but they still have problems with access to capital, language barriers and other issues, speakers said Tuesday during the 10th annual Maryland Hispanic Business Conference at the Montgomery County Conference Center in North Bethesda. [Imagine the outcry if there was a White Ethnic European Business Conference supported by taxpayers.—ed]

Hispanics in Maryland come from more of first-generation immigrants than in states such as Texas and Florida, said Jerry Godwin, conference chairman and a business development specialist with the Montgomery County Department of Economic Development.

“The language can be a barrier,” Godwin said. “But Hispanics are three times more likely to start their own businesses than the general population. [Is that because they get special help for being special people?–ed]  This conference helps give them the tools to do that.”

Isn’t this what small businesses have always done—depend on family?

Many Hispanic businesses are family-owned and have relied on families more than ever while trying to recover from the Great Recession, said Manny Hidalgo, executive director of the Latino Economic Development Corp., which offers services in small-business development and lending through offices in Wheaton and Washington, D.C.

Forget the family, now it’s all about those government backed micro-loans:

Although banks are lending more to Hispanic businesses, access to capital still is a problem, Hidalgo said. The Latino Economic Development Corp. provides micro-loans of as much as $50,000 to startups and businesss that have difficulty securing credit from financial institutions.  [Isn’t this what got us into trouble with housing—giving loans to people who had difficulty securing credit?—ed]

Waahhh!  We need more $$$!

But a lot of people need more capital than that,” Hidalgo said.

The Latino Economic Development Corp. is one more of those quasi-government agencies you support with your tax dollars.  This sort of lending is not economically sustainable without being propped up by you!

Have a look at their website here, and their annual report here (where we learn on Page 9 that 76% of their funds come from the taxpayer).


Responses

  1. […] Hispanic businesses in Maryland: Waahhh! We need more money acorcoran | September 9, 2011 at 6:57 am | Categories: Fiscal issues, Immigration, Maryland, Understanding the Left | URL: http://wp.me/pLfX2-51Y […]

  2. I would like to make a comment here, but I’m not exactly sure what that comment would be. I have a gut feeling that, if we could, eliminate 503(C) tax exempt organizations that depend on tax payer money, we could cure a whole lot of what is wrong with America. I do not mean that we taxpayers give our money to these organizations (though we can if we choose,) I mean our government giving these orgs. our tax money, unbeknownst to we, the tax payer. Did you write a check to “The Latino Economic Developement Corp.”?
    Probably not, but your tax dollars went there anyway.
    In my opinion, 503 C’s, yes there are some good ones, but I suspect most are sucking your tax dollars away to promote a political agenda. An agenda that you do not support. Not for me to decide, look into it and make your own decision.

  3. […] response to my post yesterday on the Latino Economic Development Corp. reader Greg sent this comment below. I think he is right […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: