Who We Are
The Lendinero Hispanic Business Foundation was founded by Gil Zapata, CEO and President of KGFA Capital Ventures Inc. dba Lendinero, a private fintech company. Mr. Zapata along with the funding support from KGFA Capital Ventures Inc. dba Lendinero decided to start this foundation for several purposes. Mr. Zapata is a serial entrepreneur. In 2002, he started his first company with zero capital. In 2009, due to the recession he lost everything. In 2013, he initiated Lendinero to help businesses obtain funding online. At that time, he had zero capital to start the business and had no option but to bootstrap. As a result, via the foundation he shares resources that he utilized to reduce costs, manage cash flow effectively and obtain alternative forms of financing. Providing appropriate technical support via our foundation can make a big impact on these businesses. As a Latino entrepreneur and working with LOBs for the last 10 years, he understands the struggles and the needs of LOBs.
Between 2013 to 2022, Mr. Zapata grew Lendinero´s sales from zero to over $2 million in annual sales, funded over $100 million and the company was valued in excess of $4 million dollars. Mr. Zapata knows that starting a business with zero capital is challenging. Today, KGFA Capital Ventures Inc. dba Lendinero employs people in the U.S, in Central America, India and other parts of the world. We believe that with the right support, other Latino-owned businesses can achieve this type of success. Also, even though Lendinero provides business financing not every business qualifies for a business loan for numerous reasons. This is when a grant can become the last resort to help an LOB. Last, at times there are businesses that need a boost to weather the storm. Mr. Zapata and KGFA Capital Ventures Inc. dba Lendinero decided to from the Lendinero Hispanic Business Foundation to assist start up and operational Hispanic and minority business owners. Lendinero Hispanic Business Foundation operates independently from KGFA Capital Ventures Inc. dba Lendinero. The Lendinero Hispanic Business Foundation has a different management team from KGFA Capital Ventures Inc. dba Lendinero. Lendinero Hispanic Foundation is professionally managed as a project by the Players Philanthropy Fund a Maryland charitable trust recognized by IRS as a tax-exempt public charity under Section 501(c)(3) of the Internal Revenue Code.
According to Stanford School of Business,
Latino entrepreneurs make up 29 percent of the U.S. population by 2050, up from 17 percent today.
If Latino owned businesses grow as fast as the U.S. average, they could add $1.4 trillion to the U.S. economy. Which would add almost eight percent to the $18 trillion U.S. economy. When Latino entrepreneurs start a business, 70 percent of their funding comes from personal savings, according to the Stanford study, while just six percent comes from commercial loans. Like every other startup sector, the biggest challenge for most Latino-owned busiesses (LOBs) is access to capital. This is why we exist.
Our mission is to help out Hispanic entrepreneurs and Latino-owned businesses from coast to coast in obtaining financial assistance via our grants to launch a business, cover expenses, or to make their businesses more efficient. At the same time provide technical assistance and resources to reduce costs, maximize earnings and make an impact at their local communities, nationwide or even internationally.
Getting LOBs up to speed won’t be easy: they are either not growing or growing slowly. Aside from our foundation, other nonprofit accelerators are doing all they can to accelerate opportunities. Part of our mission is work hand in hand with similar organizations.