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Bay Area Capital Connections IIFeatured Keynote speaker, Progreso Financiero's James Gutierrez, discusses the social impact of offering credit to Hispanics October 19, 2007
The Alliance for Community Development and the Bay Area Council created Bay Area Capital Connections as part of a Double Bottom Line approach to investing. Bay Area Capital Connections provides access to capital and business resources for ethnic minority entrepreneurs who are able to create new jobs and revitalize urban markets in the Greater Bay Area. Bay Area Capital Connections was held on October 19, 2007 at City Hall in downtown San Jose, California. James Gutierrez is a local entrepreneur making loans to the Hispanic community of San Jose since 2005, through Progreso Financiero, the company he founded with financial backing from local Venture Capitalists. "I come from the Hispanic community" remarked James, "and I saw firsthand how important access to credit and mainstream financial services is for the under-banked in pursuing their lifelong aspirations". James explained how he designed the loans his company offers to un-banked and under-banked Hispanics in a way that was different from what traditional banking institutions were offering. "Our loans are first and foremost, easy to understand, they are fully amortizing, and there is no pre-payment penalty on them". "More importantly, the impact these loans have on our customers is significant" he remarked. "Our loans are credit building, giving access to that very important first step in the mainstream financial services ladder for our customers". Keynote Speakers
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