Hispanic Heritage Month: Supporting Hispanic Business Owners

At Bank of America, we know that the determination of Hispanic small business owners can have an impact now and for generations to come. During Hispanic Heritage Month and always, we’re highlighting how these business owners in communities across the country work closely with us every day. We have an ongoing commitment to offer the expert advice from bilingual specialists, digital tools in Spanish, leadership programs and other essential resources they need to keep moving forward.

Building a network of support for business owners

Find a Community Development Financial Institution (CDFI) near you

An important resource for Hispanic business owners are CDFIs. These typically nonprofit loan funds serve low- and moderate-income communities that can offer both capital and technical assistance. Bank of America is the largest private investor in CDFIs in the United States, with more than $1.6 billion in loans and investments in over 250 CDFIs.

Find a CDFI

I love to run. I love to hear the sound when I'm running on the gravel. Long distance running is about consistency. Business is the same thing. There are times where it's a grind, it's difficult. You figure out what are you going to do, and work through it.

On screen:
Oscar Zavaleta
Founder
Montez Group
Bank of America Customer

My name is Oscar Zavaleta. I'm the Principal for the Montez Group. We are a construction management company, so we specialize in transportation projects, very large infrastructure.

So I emigrated from El Salvador, and it was tough not knowing the language. I came from a small town up in the mountains to one of the mega cities of the world, right? So when I was in high school, I had, uh, a great teacher, uh, Jamie Escalante. He was one of the most influential people that I met in my life. Being an immigrant himself, knowing his story, how hard he had to work when he got here, that always stuck with me.

In the construction industry, seventy-five percent of the workers are Latinos or minorities, but about 2% of the managers are Latinos. The ratio is… it's incredible. I just knew that I wanted to be the person that made the decisions. And then after that, there was no looking back.

I think I realized early on that I needed financing. I just didn't know quite, uh, the best way to go about it. [I] had the opportunity to meet Landon with the small business division of Bank of America. And we both worked in construction when we were young, and I think that was an immediate, um, point of connection. I just felt he spoke my language.

Super:
Landon Findley
Small Business Banker

It's my job to make sure that Oscar has a point of contact within the Bank, um, that he could rely on in order to help build and grow his business. I've even gone as far as going to Oscar's house to help him set up remote deposit online.

Without Bank of America, the growth of our company would have been difficult. You know, our goal is to scale our company. We're expanding and [being] able to do that, we are going to need a partner. And the way I look at it is, Bank of America is one of my partners.

Being a small business is very challenging. But now as we're going along, we're starting helping other small businesses to figure out how to increase that representation so that they're not faced with some of the things that I was faced [with]. I support organizations that make education a primary concern. That’s what lifts communities like ours.

I can't believe I actually got to this point. I don't really think I'm very smart, but I definitely think I'm very determined. And I tell myself, you know, when I get up every morning, it's like, “Why not me?” If I can do it, you can definitely do it.

End Card:
What would you like the power to do?
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Engineering a brighter future

Inspired by his father and an influential high school teacher, Oscar Zavaleta made the journey from the classroom to the owner of his own engineering and construction business in the San Francisco Bay area. Hear how he reached his goals with support from a Bank of America specialist.