Karina González has years of experience in the financial sector, creating opportunities for Latinos, first in Mexico and now in Los Angeles. She understands the challenges that come with difficult economic times and the importance of establishing financing options to help businesses stay on track and grow.
“I started many years ago in Mexico. I worked with Nissan on the Si Crea program, where we offered people financial opportunities. Later, we brought the program to Los Angeles. A few years later, I moved to LA-Finance. I saw an opportunity to help the Latino community by drawing on my experience. I arrived here in 2008, right in the middle of the mortgage crisis. I have always believed that difficult times create opportunities,” says González, director of LA-Finance in Lynwood.
For González, customer service is the most important part of her work, particularly when serving the Latino community, whose members may be reluctant to seek financial assistance even when they need it.
“Three things have always driven me. First, numbers. I am passionate about them. Second, creating financing plans that meet people’s needs. And third, providing customer service. Many times, people in our Latino community don’t want to ask for help. They want to figure things out on their own, even when opportunities are available. One problem is access to information; another is cultural,” González says.
Facing crises and navigating constant economic ups and downs does not discourage the LA-Finance director.
“On the contrary, it motivates me. Given the times we are living in, having the opportunity to help people and show them that they may qualify for a loan they need is important. When they finally come to us, they realize they can obtain financing through us that they may not be able to get from banks. We don’t just review applications. We look into their stories, understand their circumstances, and offer alternatives. Our community has cultural barriers when it comes to banks and savings accounts, and that ultimately hurts them. That’s why we’re here,” she adds.
González says this situation often leads Latinos to make poor financial decisions, such as turning to lenders outside the formal financial system who charge higher rates and put them at an economic disadvantage. Instead of helping their businesses thrive, these loans can leave them struggling financially.
“Lack of trust can leave people vulnerable to fraud. We primarily provide loans to businesses, regardless of their industry. What matters is their financial history. We review each case and can provide a decision within up to two weeks. We’ve seen small businesses resolve financial difficulties and set themselves on a path toward significant growth. We also offer personal loans based on employment and credit history,” she says.
González emphasizes that the company carefully evaluates each application to avoid placing additional pressure on businesses. Borrowers need sufficient financial breathing room to grow, she explains, and financing should contribute positively to that process.
“Today, there is still a great deal of uncertainty. It has eased somewhat, but it hasn’t gone away. Businesses continue to struggle, and many end up severely damaged. That’s why companies like ours are necessary. We offer options outside the traditional banking system, as well as alternatives to lenders that may appear reputable but whose track records are difficult to verify,” she concludes.
