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Posted on: April 11th, 2006
Filed Under: [ Business ] [ Hispanic News ] [ Press Releases ]
Tags: Cuba, money transfer, population, remittance, remittances
Microfinance International Corporation is opening its second Delaware branch of Alante Financial, its financial services arm, to serve the fast-growing Hispanic population in Sussex County. Alante Financial offers customized and affordable financial services to otherwise unbanked Hispanics, such as microloans, mortgages, real-time money transfers, check cashing and financial education. Customers can establish credit history through the regular use of Alante Financial services.
The opening ceremony will take place on April 15, 2006 11:00 AM at the branch located at 11 E. Market Street, Georgetown DE 19947.
Delaware Governor Ruth Minner and Lt. Governor John Carney called the company’s effort to incubate microfinance in Delaware “very important” for local economic development. The Hispanic population in Sussex County grew by 369% during 1990 and 2000, and Hispanics are estimated to constitute half the population of Georgetown.
“Our goal is to help Hispanic immigrants to contribute to the vibrant local economy,” said founder and president of Microfinance International, Atsumasa Tochisako, a 27 year veteran of Bank of Tokyo. “Hispanic immigrants tend to have few alternatives other than informal service providers that charge expensive fees and do not help them build a credit history.”
Since 2004, Alante Financial has served the Washington Metropolitan region and is expanding quickly based on its innovative products, inexpensive fees and excellent customer service. It offers remittances priced at $7 for transfers up to $200, the lowest cost check cashing in the market, and the only microloans available on the market.
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