million, for the equipment, materials, space, insurance and workers. This is partly because of the level of risk and certifications involved,” says Hernandez. Recent immigrants also face the obstacle of having no visible financial history. U.S. credit unions and banks do not consider an individual’s credit history and lending history from other countries. “They’re seen as a risk because they’re a blank slate. Nothing financial a person did in Mexico counts,” says Hernandez. There is also a lack of cultural understanding about how Latino immigrants see the lending process. “Latino immigrants believe they get a loan from the person who offers it. They value that personal relationship. In addition, they often prefer to work with other Latinos. Lending institutions should reach out to workers to understand their goals and then build trust,” says Hernandez.
Hernandez adds lenders should be aware that Latinos, no matter what their immigration status, can be hesitant to ask friends and family members for loans. “Not having enough money may be seen as a weakness,” says Hernandez. Entities such as Latino Community Foundation (LCF), a San Francisco-based nonprofit which invests in Latino-led organizations, encourage shifts in lending practices. “LCF works with over 100 nonprofit organizations, including Creser Capital Fund, to make sure they have the resources to respond. We help them because they know local communities best. They have experience assisting individuals with moving forward as business owners,” says Veronica Vences, entrepreneurship director of Latino Community Foundation. In the Latino community, hiring via word of mouth is a very
effective mechanism. One of the ways that Latino construction workers and business owners move forward is by workers recommending potential employees who come from their hometowns. Dr. Daniel Malpica is the chair of the Department of Chicano and Latino Studies at Sonoma State University. He researches international migration, race and ethnicity, labor markets and indigenous peoples. He is also the professor who teaches the class, “Latin American Migration to the United States,” that Gaona took. “You end up with a 10-member crew from the same town because people visit Mexico or Guatemala and reach out to their cousin, brother or uncle. It’s a win-win for the business and the recent immigrant. The person who’s already here can grow their business. The person coming has a guaranteed job,” says Malpica. Malpica adds Latino immigrants who do not have family or personal connections in construction can use more support and education. “Day labor centers help them make connections with other Latinos workers and employers. Later, education, training and gaining fluency in English help them learn how to work safely and not be vulnerable. The first steps are working with the right equipment, knowing how to use it and knowing the rules. Such progress makes Latino immigrants indispensable to the construction industry. It also puts them in the position of being able to help others down the road,” says Malpica. g
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August 2024
NorthBaybiz 37
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