Latino Community CU Launches Small Business Lending Services
DURHAM, N.C. – Latino Community CU is introducing microlending to small businesses in its area.
The credit union, which serves the region’s growing Latino population, will lend to illegal immigrants, helping them to secure Individual Tax Identification Numbers in lieu of Social Security numbers.
It will up lend up to $10,000 and avoids high-risk businesses such as restaurants, preferring those with lower overhead such as janitorial, construction and landscaping services.
The 10-year-old credit union, which has almost $100 million in assets, recently opened its 10th branch.