Empowering Latina Entrepreneurs: A Bold Step for Inclusive Economic Growth in Georgia
The recent partnership between the Latin American Association (LAA) and the Community Foundation for Northeast Georgia is a compelling example of how mission-driven capital can spark meaningful change in underserved communities. With a $100,000 investment from the Foundation’s Impact Investment Fund, LAA’s Avanzando Juntas initiative is now better equipped to provide microloans—up to $10,000—to Latina entrepreneurs working to launch and grow women-owned businesses. This is more than just a funding announcement; it’s a demonstration of how strategic investments can fuel economic mobility and build community wealth where it’s needed most.
For over a decade, LAA has played a quiet but powerful role in supporting small business development through microloans and culturally responsive services. Santiago Marquez, CEO of LAA, emphasized the partnership’s commitment to fostering economic growth and supporting aspiring entrepreneurs, and DePriest Waddy, CEO of the Community Foundation, stated that the goal is to empower Latina entrepreneurs and drive meaningful community change. Now, with this new capital infusion and a strengthened partnership, LAA is positioning itself to become a certified Community Development Financial Institution (CDFI). That milestone would mark a significant evolution in Georgia’s impact finance landscape, unlocking new federal resources and bringing greater visibility to the state’s underserved entrepreneurs—especially within Latinx communities that are often underrepresented in traditional capital markets.
Addressing Common Barriers Head-On
Georgia’s Latino population has experienced a remarkable 32.7% growth since 2010, surpassing the national average of 25.9%. Notably, 62% of this community is under the age of 34, highlighting the critical role Latinos will play in shaping Georgia’s economic future. Despite this growth and a strong entrepreneurial spirit—evidenced by approximately 91,000 Latino-owned businesses in the state—many of these enterprises remain small-scale, with 90% reporting revenues under $200,000. This underscores the pressing need for targeted financial support and resources to foster business expansion and sustainability.
Latina Entrepreneurs Are Underinvested In
This initiative addresses significant disparities in access to capital, as Latina entrepreneurs receive less than 2% of venture capital funds nationwide, often resulting in smaller and slower-growing enterprises.
LAA’s Avanzando Juntas program offers a comprehensive support system tailored to the unique needs of Latina entrepreneurs. The program encompasses:
- Introductory Classes: Monthly sessions focusing on value proposition and financial literacy, laying the groundwork for successful business planning.
- Business Incubator – “Planifica tu Negocio”: An 8-week course providing over 20 hours of training on business plan development, cash flow management, and business registration.
- Business Accelerator – ACCIONA: Advanced support including technical assistance, personalized mentorship, marketing training, access to capital, and networking opportunities to scale businesses.
- Business Ecosystem: A network offering resources, supplier connections, and opportunities to maximize business potential, including the Community Navigators Pilot Program (CNPP) designed to reduce barriers for underrepresented entrepreneurs.
Understanding the Potential Impact
The impact of these programs is evident in success stories like that of Shirley Paucar, owner of Sweet Toppings ATL. Through the Avanzando Juntas program, Shirley transitioned from an assistant manager position to a thriving entrepreneur, achieving a 36% salary increase and generating $5,000 in monthly profits. Her journey exemplifies the transformative potential of targeted support and access to capital.
For Georgia’s impact investing community, this partnership serves as a compelling model of how strategic investments can drive inclusive economic development. By channeling resources into programs that empower underrepresented entrepreneurs, investors not only foster individual business success but also stimulate broader community prosperity. As LAA progresses toward becoming a certified Community Development Financial Institution (CDFI), it stands to unlock additional federal resources, further enhancing its capacity to support underserved entrepreneurs and contribute to a more equitable economic landscape in Georgia.
Investing in Latina entrepreneurs is not merely a matter of equity; it is an astute economic strategy. Women of color represent one of the fastest-growing segments of business owners in the U.S., yet they continue to encounter systemic barriers to funding. By intentionally addressing these gaps, we not only uplift individual entrepreneurs but also fortify the economic resilience and vibrancy of our communities.
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