American Finance Solutions has always had a very strong presence in the Latina community. Being in Southern California, with a high concentration of Latina businesses, we know how important and vital this client-base is to our business.The U.S. Census Bureau statistics show Latinas are starting their own businesses at six time the national average. From 1997 to 2006, the number of Latina-owned firms increased by 121%. What is significant is that Latina business owners have quickly moved beyond the local restaurant and markets. At AFS we have seen significant strides that Latina owners are making in manufacturing, business services and retail.
What is important when marketing and servicing your Latina-client base, is doing it on their terms. Roughly 50% of our latina-client base, prefers to communicate in their native Spanish-language, even though they speak perfect or near-perfect English. So if you have this skill set as an agent, you're already half way home to the sale.
In addition, our Latina-clients are extremely loyal and honest. If you take care of your Latina-business owners, they will take very good care of you with continual repeat business and an almost endless supply of referrals. If you charge bogus fees, overcharge for equipment, hide ancillary prices; they will quickly leave and not be shy at all in telling all their friends and fellow business owners.
At American Finance Solutions, this target market has the lowest default ratio; making them very attractive to finance! In addition, Latina-business owners often do not have a strong banking history with traditional financial institutions; making the merchant cash advance product a perfect fit for them.
