CIT Provides $100,000 to Los Angeles Latino Chamber of Commerce for Technical Assistance to Small Businesses
August 08 2016 - 8:30AM
Business Wire
- LALCC Supports Economic Development in
the Latino Community of the Greater Los Angeles Metropolitan
Area
- Grant Supports Further Development of
Small Business Technical Assistance Services of LA Latino Chamber
of Commerce (LALCC) Foundation
- Services Include Consulting and
Workshops on Improving Technological Efficiency, Accessing Capital
and Gaining Contracting Opportunities
OneWest Bank, a division of CIT Bank, N.A., (Member FDIC, Equal
Housing Lender), which offers products and services to consumers
through a network of retail branches in Southern California, today
announced it provided a $100,000 grant to the Los Angeles Latino
Chamber of Commerce (LALCC), a non-profit organization that
supports economic development in the Latino community of the
greater Los Angeles metropolitan area. This grant will support the
further development of the technical assistance services offered by
the LALCC Foundation, the LALCC’s learning effort, which include
one-on-one consulting and workshops on improving technological
efficiency, accessing capital and gaining contracting
opportunities. CIT Bank is the U.S. commercial bank subsidiary of
CIT Group Inc. (NYSE:CIT), a leading provider of commercial lending
and leasing services.
Gilbert R. Vasquez, Chairman, Los Angeles Latino Chamber of
Commerce, said, “The LALCC supports the expansion of economic
opportunities in the communities we serve and the profitable growth
of our members’ businesses. Through courses and counseling, the
programs of the LALCC Foundation impart the core capabilities
needed to run a successful business in today’s competitive
marketplace, including strategic planning, accessing capital,
finance and accounting, e-commerce and obtaining certification for
procurement opportunities. OneWest’s investments in the LALCC are
essential to our efforts to help Latino small businesses throughout
the Los Angeles region thrive and prosper.”
John Erickson, President, Consumer Banking and President,
California, CIT, said, “This grant helps the LALCC deliver
technical assistance services that will allow local small
businesses to grow and become more efficient while sustaining and
creating jobs in the Los Angeles area. In addition, this grant will
enable the LALCC to acquire tablets for its Business Technology
Center, where small business owners can experience the latest in
business technology and learn how they can use technology to help
drive their growth. Supporting small businesses is an essential
part of our philanthropic activities and a core element of our
commitment to facilitate the economic development of communities
across Southern California.”
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About the Los Angeles Latino Chamber of Commerce
The Los Angeles Latino Chamber of Commerce (LALCC) is a
nonprofit, 501(c)3 organization. The purpose of the LALCC is to
assist, organize and unify Latino business owners to: (1) generate
increased levels of business between members; (2) generate
increased levels of business from outside the Latino community; (3)
provide valuable and permanent member services for the improvement
and success of their businesses; (4) advocate for small and
medium-sized businesses on a regional, statewide, and national
basis; and (5) provide overall leadership on relevant business
issues, as well as community economic development issues. LALCC
currently targets its services to Latino and other minority
businesses in five Southern California counties: Los Angeles,
Orange, Ventura, San Bernardino and Riverside. lalcc.org
About the Los Angeles Latino Chamber of Commerce
Foundation
The goal of the Los Angeles Latino Chamber of Commerce (LALCC)
Foundation is to help businesses retain employees, create new job
opportunities, and participate in new contracting opportunities by
providing consulting, training, financing, and procurement
opportunities to the LALCC’s member businesses. With today’s
demanding and ever-changing economy, the LALCC Foundation’s
services are focused on assisting business owners to be ready for
economic opportunities as well as cultivating an environment for
job creation. lalcc.org/business-assistance/
About CIT
Founded in 1908, CIT (NYSE:CIT) is a financial holding company
with more than $65 billion in assets. Its principal bank
subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has
more than $30 billion of deposits and more than $40 billion of
assets. It provides financing, leasing and advisory services
principally to middle market companies across a wide variety of
industries primarily in North America, and equipment financing and
leasing solutions to the transportation sector. It also offers
products and services to consumers through its Internet bank
franchise and a network of retail branches in Southern California,
operating as OneWest Bank, a division of CIT Bank, N.A. cit.com
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