Bank donates $5,000 to assist Latino businesses hurt by COVID

Chamber president and CEO Nelson Soler picked up a check from Alfredo.

North Shore Bank recently donated $5,000 to support the Latino Chamber of Commerce of South Eastern Wisconsin’s Más Fuertes program, which was started to help small businesses and self-employed people in the region’s Latino community adversely affected by the COVID-19 pandemic.

The microloan fund provides relief funds to Latino-owned businesses with 2 to 9 employees, El Rey area branch manager Alfredo Martin said. The 18-month microloans are for a maximum $3,000, carry a rate of 3.75 percent, and have a 90-day first-payment deferment. Half of a Más Fuerte loan may be forgivable if the applicant shows they used it to cover rent or payroll.

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