The U.S. Latinx economy is a critical driver of economic growth in America, growing at more than double the rate of Non-Latinx businesses and generating $2.3 trillion in GDP in 2017, making it the 8th largest economy in the world.
This segment is a leading indicator of larger systemic trends within the U.S. Economy as a whole.
The Camino Financial U.S. Latinx Small Business Survey provides insights into this critical segment informed by Camino Financial’s loan application data.
- Average Latinx Small Business revenue remained relatively flat in Q4 2019
- Latinx businesses have a lower distribution of Credit Scores compared to Non-Latinx applicants
- The number of Latinx Small Business loan applications with no reported credit score increased dramatically in Q4
- Latinx entrepreneurs launch new businesses at an increasingly rapid rate
- Most Latinx Small Businesses operate in Low to Moderate Income areas
This initial survey encompasses data from 2019.
Subsequent editions will be released quarterly, giving an evolving snapshot of change over time and indicative of systemic macroeconomic trends within the larger US Economy.
Camino Financial uses proprietary AI software to aggregate data and build machine learning models to make credit decisions for thin-file, cash-based microenterprises. These unique capabilities give Camino Financial exclusive insights into the understudied Latinx business market.
For more information, data, and background contact [email protected].