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.