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2007 APPROVED RESOLUTIONS » Resolution

Resolution 10.27 (Floor Resolution) - Economic Equity for Latino Enterprises

This Resolution was Approved by the National Latino Congreso on Day Three Sunday October 7th

Author: Ms. Luz Bazan Gutierrez

Organization: Rural Community Development Resources

Phone: 509-453-5133     Email Address: rcdr@chatu.net

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WHEREAS, TARP funds for private banks have not reached Latino enterprises in equitable proportion; and

WHEREAS, the TARP funds for private banks had a reverse impact on their lending abilities due to tighter regulations; and

WHEREAS, the government needs to develop or enhance initiatives to provide more access to capital for small businesses with special emphasis on microenterprises, which create 1-5 jobs for low/moderate income people; and

WHEREAS, these microenterprises are the life blood of small rural communities through out the United States; and

WHEREAS, census statistics show that small Latino firms and businesses have a long term investment in communities; and

WHEREAS, these small businesses create wealth and employment for family members and keep the family more financially stable; and

WHEREAS, there is as perception that federal funds are not equitably distributed to community based organizations that have a track record of providing technical assistance and access to credit to Latino/minority communities;

1. THEREFORE BE IT RESOLVED, that the organizations represented by delegates of the 2010 National Latino Congreso request immediate data from the following programs: SBA Microloan Program, Dept. of Treasury, Community Development Financing Institution (CDFI), United States Dept. of Agriculture (USDA) Rural Development, Rural Business Enterprise Grant (RBEG), and the Rural Business Opportunities Grant (RBOG), in regards to the percentage of total funds granted or loaned to Latino Community Based Organizations (CBO’s); and

2. FURTHER BE IT RESOLVED, that immediate initiatives be initiated by respective departments to correct the inequities and disparity of funding for Latino CBO’s.