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MDHCC Chairman to Speak at the 20th Annual Milken Institute Global Conference

Thursday, April 13, 2017   (0 Comments)
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FOR IMMEDIATE RELEASE

MEDIA CONTACT:
Seth McDonnell
info@mdhcc.org
410.825.0994

 
Maryland Hispanic Chamber of Commerce Chairman to Speak at the 20th Annual Milken Institute Global Conference
 

Baltimore, MD—April 13, 2017—The Maryland Hispanic Chamber of Commerce (MDHCC), the leading chamber of commerce representing and connecting over 54,000 Hispanic-owned businesses in the region, will represent Maryland’s minority business interests at the 20th annual Milken Institute Global Conference in Los Angeles, California. The conference brings together “some of the world's most extraordinary people to explore solutions to today's most pressing challenges in financial markets, industry sectors, health, government and education.” MDHCC Chairman and President, Jorge Eduardo Castillo, will speak in a panel dedicated to “Opening up Capital to Underserved Small Businesses,” to be held on May 2nd.


Inclusion in the conference marks a significant step forward for Maryland’s Hispanic business community, which has always faced unique challenges not only in procuring business resources, but also in simply being included in efforts to alleviate these disparities.


Until recent months the Hispanic community was altogether overlooked for a pilot initiative, Partnerships for Lending in Underserved Markets (PLUM), which was created to improve access to capital for minority businesses in Baltimore. Thanks to the intervention of the Maryland Hispanic Chamber of Commerce in collaboration with other Hispanic business leaders, the Milken Institute and the U.S. Small Business Association (SBA) expanded the project to include Hispanic-owned businesses and invited MDHCC Chairman Castillo to join their advisory board. He was later invited to speak at the Milken Institute Global Conference.


“Hispanic businesses are growing at 15 times the national average, and that makes the availability of capital, which is already scarce for Hispanic-owned businesses, even significantly more restrictive,” said Castillo. “In Baltimore, minority-owned businesses suffer from several factors, including discrimination, which makes access to capital monumentally more difficult when compared to white-owned businesses,” he continued. “I want to thank and commend the Milken Institute for identifying this nationwide problem and, as it has a track record of doing, taking action in a transformational and strategically deliberate way to move us closer to a solution,” he concluded.


Over 3,500 attendees from over 50 countries will convene in Los Angeles in late April to be part of these important conversations on the intersection of economic and social issues.


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About the Maryland Hispanic Chamber of Commerce: The Maryland Hispanic Chamber of Commerce is the premier state-wide institution for the representation and advancement of business interests before the public and private sectors. The Maryland Hispanic Chamber of Commerce (MDHCC) focuses on developing a business network that provides the Hispanic community and the business community at large with cohesion and strength. The MDHCC delivers its members with the three proven “P’s” to propel businesses towards success: Promotion, Partnerships and Procurement Advice.

Since its inception, the MDHCC has worked towards bringing the issues and concerns of the state’s thousands of Hispanic-owned businesses to the forefront of the state’s economic agenda. Throughout its 30-year history, the Chamber has enjoyed outstanding working relationships with the state’s Administration, the state legislature and its leaders, Members of Maryland’s Congressional delegation and the current and former White House Administrations. Through its association with a network of local Hispanic Chambers of Commerce and Hispanic business organizations, the MDHCC effectively communicates the needs and potential of Hispanic and non-Hispanic enterprises to the public and private sector. For more information visit www.mdhcc.org.


For more information on racial-based discrimination in lending please visit:

“Racial discrimination seen in banks' lending practice, group says” http://www.baltimoresun.com/business/bs-bz-lending-disparities-report-20151117-story.html

“Racial Penalties in Baltimore Mortgages”
https://www.nytimes.com/2015/05/31/opinion/sunday/racial-penalties-in-baltimore-mortgages.html?_r=0

“Study Strongly Links Baltimore Mortgage Denials to Race”
https://www.nytimes.com/2015/11/17/business/dealbook/study-strongly-links-baltimore-mortgage-denials-to-race.html


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