Sonia Alvelo, 2023 Women in Business Honoree
Sonia Alvelo, born and raised in Jayuya, Puerto Rico, started her company in 2012, making it her mission to provide financing to businesses of all sizes and descriptions in the United States and Puerto Rico.
Latin Financial offers financing of more than $1 million per month to its client companies that need working capital to grow. For the past 11 years, Alvelo and Latin Financial have had an agreement to donate 1% of their profits to Connecticut Children’s Hospital, a pact extended two more years.
Alvelo sits on the board of directors of the Better Business Bureau of Connecticut, the first Latina to do so. She was the first Latina to speak at the Broker Fair commercial finance expo in New York and Miami.
She was named Entrepreneur of the Year in 2019 by the Latinas & Power Symposium and received the Capital Provider of the Year award from the CT Entrepreneur Awards last year.
In 2022, other honors include a Family Business Award from the Hartford Business Journal and New Haven Biz and a certificate of special recognition from Sen. Richard Blumenthal at the grand opening of a new office in Wethersfield.
What have been your biggest professional accomplishments so far?
Being a Latina minority business owner in an industry run by men is a big accomplishment. I’ve made it my mission to keep on helping and educating small business owners, especially women and minorities to gain access to capital and the knowledge to continue to thrive against all odds.
I’m aware of my responsibilities to my community as a result of successful business ventures and community leadership.
What’s the next big goal you want to accomplish professionally?
My goal is to continue to bring knowledge to the businesses and help any way I can with financial literacy to all the Latino communities. I want to branch out to other cities where the small businesses need access to capital to continue to grow.
I understand that anything is possible as my life is a story of encouragement, resilience and perseverance.
What are your keys to maintaining business success?
I always say there are three strategies to move toward a successful business: leverage your resources, build a brand they can trust and work smarter, not harder.
Check out the rest of the 2023 Women in Business Honorees
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