National Hispanic Heritage Month begins September 15 and runs through October 15. The annual observance recognizes the history, heritage, traditions, and contributions of Hispanic Americans. For 2026, the National Council of Hispanic Employment Program Managers selected the theme “UNIDOS, SOMOS MÁS,” or “TOGETHER, WE ARE MORE.”
For Latino-owned businesses, the numbers behind that theme tell a powerful story.
Latino Business Growth Is Outpacing the Market
From 2007 to 2023, the number of Latino-owned businesses in the United States increased 157.9%, compared with 23.7% growth among non-Latino-owned businesses, according to a UCLA and Cal Lutheran analysis of Census Bureau business data.
The researchers found an especially notable shift from 2017 to 2023. Latino-owned employer businesses, defined as firms with at least one paid employee beyond the owner, grew faster than Latino-owned non-employer businesses, reversing the pattern seen across the broader U.S. economy. That increase in Latino-owned employer businesses also contributed significantly to job growth during the period.
That matters because business growth is more than a measure of entrepreneurship. When a business hires, expands its operations, purchases equipment, or acquires commercial space, that activity can create opportunities for employees, suppliers, and the communities around it.
But strong business growth does not necessarily mean equal access to capital.
Growth and Access to Capital Do Not Always Move Together
The Stanford Graduate School of Business State of Latino Entrepreneurship report found that Latino business owners were more likely than White business owners to apply to multiple sources of financing, while being less likely to receive all of the funding they requested. They were also more likely to report that loan denials lacked specific reasons, making it harder to understand what could be improved on a future application.
For a business owner, that can make the next step harder to finance. A company may have customers, revenue, employees, and a viable plan to expand, yet still face a barrier when it needs capital to purchase property, add equipment, or invest in the business.
That is one reason mission-driven lenders can play an important role.
Where Community Lending Fits
A Community Development Financial Institution, or CDFI, is a mission-driven organization certified by the U.S. Department of the Treasury’s CDFI Fund. CDFIs provide financial services to underserved communities and support economic opportunity in areas that may not receive sufficient investment from traditional lenders.
Certified Development Companies, or CDCs, serve a different role through the SBA 504 program. CDCs are nonprofit corporations certified and regulated by the Small Business Administration. They work with lenders and small businesses to provide long-term financing for major fixed assets, including owner-occupied commercial real estate and certain types of equipment.
AmPac Business Capital operates as both a CDC and a CDFI, allowing the organization to offer SBA lending alongside community lending programs designed to address specific financing barriers.
One example is the upfront capital required to purchase commercial real estate. AmPac’s Down Payment Assistance Program provides liquidity replacement for eligible Black-, Latino-, and women-led businesses in California purchasing owner-occupied commercial real estate. The program can provide up to one-half of the required down payment, up to $100,000, when the borrower uses an AmPac SBA 504 or 7(a) Community Advantage loan for the purchase.
For an eligible business owner, preserving some of the cash that would otherwise go toward the down payment can leave more working capital available for the business itself. That can be especially important when a company is balancing the cost of purchasing property with payroll, inventory, equipment, and other operating expenses.
Building on the Momentum
Hispanic Heritage Month provides an opportunity to recognize the people and businesses contributing to communities across the country. It is also an opportunity to consider what will help that momentum continue.
The data shows substantial growth among Latino-owned businesses. It shows that these businesses are contributing to job creation and new business formation. It also shows that access to financing remains an important part of the equation.
For California business owners exploring commercial real estate ownership, expansion, working capital, or other financing needs, AmPac offers SBA and community lending programs designed to help businesses move forward.
Explore AmPac’s Community Lending Programs or connect with the AmPac team to discuss available options.