DENVER--(BUSINESS WIRE)--Aug. 15, 2005--U.S. Bank, the United
States Hispanic Chamber of Commerce (USHCC) and the Denver Hispanic
Chamber of Commerce (DHCC) have partnered to offer Capital!, a
national loan program aimed at lending to small businesses in
high-growth Hispanic markets nationwide. U.S. Bank will provide
referral payments to the chamber for every loan booked in this program
developed through a partnership between U.S. Bank and the USHCC.
Information about the program will be presented at an upcoming DHCC
networking event in the fall.
Capital! provides a substantial new revenue stream for the
chamber plus an important new benefit to attract new members as well
as a source of new customers for U.S. Bank. U.S. Bank pays a referral
fee to the chamber as a percentage of each loan, line of credit, or
lease that is booked in the program. This new revenue stream will help
the chamber meet mission-critical goals and objectives and their
business members expand and create jobs.
The USHCC, based in Washington, D.C., represents the interests of
more than two million Hispanic-owned businesses in the United States
and Puerto Rico, which earn more than $200 billion annually. It serves
as the umbrella organization for more than 200 local Hispanic chambers
nationwide and it actively promotes the economic growth and
development of Hispanic entrepreneurs. Capital! establishes USHCC
local chambers as sources of technical assistance and support for all
small businesses that need capital to grow and prosper. U.S. Bank
works directly with the USHCC and its local affiliates to meet the
program's goals and objectives and to ensure the program is a success.
"We have heard the call of our affiliate chambers and are excited
about Capital! which is designed to meet the substantial
access-to-capital needs of Hispanic businesses nationwide," said
Michael L. Barrera, president and chief executive officer of the
USHCC. "We continue to find unique ways to partner with corporate
America to create opportunities for growth and success for our entire
constituency. Capital! is one of those critical programs that helps
our business community move forward."
"U.S. Bank has had positive relationships with the Hispanic
community over the years, and we have partnered with various Hispanic
organizations. Through the Capital! program, we are confident that
more Hispanic businesses will prosper, which is good for Denver," said
Mark R. Smith, president of U.S. Bank in Denver.
The DHCC will provide technical assistance to businesses so that
they are well prepared to qualify for access to capital. They will
work in conjunction with a U.S. Bank small business banking officer
designated as a loan executive to the program. Loans originated under
this program will be underwritten with the same guidelines and with
the same applicable fees, interest rates and other charges as loans
originating from outside the program.
"The Capital! program demonstrates U.S. Bank's strong commitment
to the growth of the Hispanic business community in Denver," said
Jeffrey M. Campos, president and chief executive officer of the DHCC.
"Securing financial support is a critical element for the Hispanic
entrepreneur in building a business. The Capital! Program gives the
small business owner a creative solution for a frequently difficult
The technical assistance provider for the Capital! program is
Cultura Business Communications of Denver. The organization will be
helping DHCC business members by providing technical assistance,
education and counseling to improve their ability to access capital
with U.S. Bank.
Today, more than 80 percent of new jobs in the United States
emerge from within the small business sector. The ability for these
small businesses to gain access to capital creates a catalyst for job
growth. This program recognizes the vital role of the Hispanic
enterprise in the growth and development of the American economy and
the importance of capital access for underserved small businesses.
U.S. Bancorp (NYSE:USB), with $204 billion in assets, is the 6th
largest financial holding company in the United States. The company
operates 2,383 banking offices and 4,877 ATMs in 24 states, and
provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions. U.S. Bancorp is home of the
Five Star Service Guarantee in which the company pays customers if
certain key banking benefits and services are not met. U.S. Bancorp is
the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
Note to Editors: There should be an inverted exclamation point
CONTACT: U.S. Bank Media Relations
Amy Frantti, 612-303-0733
SOURCE: U.S. Bank