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Bilingual platform offers financial resources in Spanish

A Hispanic-owned company launched a new bilingual platform aimed principally at the Hispanic community in the U.S. Crediverso offers credit checks, information about how to improve credit scores and how to obtain banking services, among other services.

Through a statement, Crediverso announced that their services start on September 9, a few days before the celebration of Hispanic Heritage Month in the U.S.

Carlos Hernández, CEO and founder of Crediverso, said that he and his mother lived in different parts of the border between Mexico and the U.S. and that it helped him understand the difficulties that face the Hispanic community.

“The immigrant experience is one that affects me personally because I’ve seen the struggles that surround it,” he said.

Around 30 percent of Hispanic low-income families in the U.S. don't have a bank account and do not receive adequate banking services, according to the latest report by the Federal Reserve.

Raúl Holguín, founder of Mesquite Lumber and Flooring in Tucson, Arizona, said that the launch of this service marks the end of a 16-year search to find financial resources in Spanish.

“I don’t know why, if there are so many strong companies and so much economic movement on the part of Hispanics, I don’t have access to that type of credit or financial arrangements.”

Holguín started his business as a pastime, but the company now exports exotic woods to all of over the U.S. including eight states. He said that he’s excited because he will be using Crediverso’s services.

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“I’m going to be the number one seller. I have hundreds of entrepreneurs who run into the same thing as me.”

The new service wants to serve more than 62 million Hispanic consumers in the U.S.

Crediverso also offers information about how to pick out the best options for sending money to other countries. Likewise, it has information about obtaining a credit check in Spanish, receiving a free credit report and learning how to improve credit.

Hernández graduated with a bachelor's and master's degree in business from Harvard. Afterwards, he went to work in finance in Mexico, Central America and Brazil. Later, he returned to Harvard, where he earned a doctorate in law and business. Hernández said that the closeness of his own community helped him identify their needs.

“A person can change their credit by doing something so simple as canceling a credit card that they haven’t had for a long time, but that information is not widely spread,” Hernández said. “It’s not available, it’s not accessible in places where our community is. A big part of our mission is education so people can feel empowered in their financial lives.”

The credit agency Equifax began a similar initiative that offers services to requests for free credit reports in Spanish through internet or email.

Hernández said the count on his work team is 30 people in the U.S. and Mexico.

This report was translated from the Spanish original by TucsonSentinel.com IDEA reporter Bennito L. Kelty.

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Photo courtesy of Crediverso

Carlos Hernández, founder and CEO of Crediverso, a platform that offers free services in Spanish and English for financial resources.