Brief history of Apoyo Financiero:
Apoyo Financiero was established in November 2007 and offers micro loans aimed primarily to the Hispanic market in the San Francisco Bay Area.
Apoyo Financiero conducts business under a California Finance Lenders (CFL) License which is regulated by the state of California.
Apoyo Financiero focuses on Hispanics who do not have a credit history in the United States and who require funds either to start a business in the U.S. or send money back to their countries of origin in order to acquire an asset or fill a need.
Apoyo Financiero has a specialized credit methodology and can provide loans to those individuals without credit history. Apoyo Financiero reports to the credit bureau enabling its customers to create a solid credit profile that will allow them to access mainstream credit.
In 2011 Financiera Independencia, a leading Financial group based in Mexico, acquired 77% of Apoyo Financiero's shares. The merger stimulated the expansion of Apoyo Financiero’s second branch in Oakland. In 2012 launched branch operations in San Jose, Concord and San Pablo. In 2013 seven new branches were opened in South San Francisco, Hayward, Santa Rosa, Napa, San Jose-Blossom Hill, Tracy and Gilroy.
Currently, Apoyo Financiero has 20 locations and plans to continue its expansion in 2016 in order to serve more customers and contribute to the prosperity of the Hispanic market in California.