#United States #Miami #Lafayette Square #SBLC License #U.S. SBA

Lafayette Square Strengthens Its Commitment to Underserved Markets with New SBLC License

Lafayette Square USA, Inc., a company focused on business development, has made headlines as one of the four organizations recently licensed by the U.S. Small Business Administration (SBA) as a Small Business Lending Company (SBLC). This pivotal designation allows Lafayette Square to broaden its support for entrepreneurs in historically neglected communities aiming to secure affordable capital for their business ventures.

The SBLC license aligns with the SBA's strategic efforts to foster increased access to financing for small businesses in underserved localities. These businesses are often vital engines of economic growth, yet they frequently face significant barriers to acquiring necessary funding. By granting this license, the SBA aims to address these disparities and promote business ownership among marginalized groups.

Damien Dwin, the Founder and CEO of Lafayette Square, expressed his enthusiasm regarding the new SBLC license. He explained, “This SBLC designation reinforces our ability to reach more underserved communities while adhering to prudent lending practices. With this and our existing Small Business Investment Company (SBIC) licenses, we are ideally positioned to tap into low-cost funding sources, allowing us to better serve small businesses in these communities.”

The significance of this licensing is further underscored by the words of Isabel Casillas Guzman, the SBA Administrator.