Ten Latina entrepreneurs were presented with the first annual Anna Maria Arias Memorial Business Fund Awards during the Hispanic Businesswomen’s Luncheon at the United States Hispanic Chamber of Commerce (USHCC) 23rd Annual National Convention and Business Expo. The Expo was held in Los Angeles this past October, and each winner was awarded a cash grant of $5,000 to invest in their business.

The Anna Maria Arias Memorial Business Fund was created to identify and reward Latina business owners who have demonstrated a dedication and commitment to entrepreneurship. The Fund, which was made possible through Wells Fargo and Aetna, recognizes the accomplishments and success of Latina businesswomen who epitomize the principles and values that were championed by the late Anna Maria Arias, founder and publisher of LATINA Style Magazine. The panel of judges included representatives from the Anna Maria Arias family, Wells Fargo, Aetna, USHCC and LATINA Style Magazine. The judges reviewed over 110 applications.

According to the latest figures from the 2000 Census, Latinas continue to start businesses at three times the national rate. They are the fastest growing segment of the small business community across both genders and all ethnic groups. Still, they experience severe barriers when applying for business loans or for bank lines of credit. Cash flow is one of the major problems these entrepreneurial women have to face. The Fund was created to alleviate some of these financial pressures.

“The winners represent Latina entrepreneurs from many areas of the country and many different industries. They are true examples of the Latina entrepreneurial spirit. I’m sure Anna Maria is very proud of the women selected,” said Robert E. Bard, President and CEO of LATINA Style Magazine.

Alicia Hinson, President of Optimum Translations in Franklin, Tennessee, didn’t think she had any chance to win the grant. “When I learned I had won, I was thrilled,” said Hinson.

Hinson’s motivation to start her own translation business came when she realized she was undervalued working for a big corporation. “I saw how men dominated companies and I didn’t think it fair to women, especially me,” said Hinson. Determined to succeed, she started Optimum Translations seven years ago. At the beginning starting my own business was a bit discouraging,” admits Hinson. “I had the vision, but there was no market.” However, the past 3 years for Optimum Translations have been successful.

Through the Anna Maria Arias Memorial Business Fund grant, Hinson and her business partner initiated Zona Familiar, a family magazine published in Spanish that serves the local community. “We are going to use the funds entirely for the magazine.” They plan on buying a Macintosh computer, purchasing stands to showcase the magazine and enrolling in courses on Macintosh operation. “I am honored, grateful and excited to have won this award,” said Hinson.

LATINA Style Magazine partnered with Founding Sponsor Wells Fargo Bank, Aetna Inc. and the USHCC to create the fund in memory of the late Anna Maria Arias. “We are proud to collaborate with LATINA Style Magazine and the USHCC to see that the seeds [Anna Maria] planted in life will continue to grow for Latina business women,” said Elizabeth Isphording, Vice President of Small Business Marketing Communications for Wells Fargo.

 “Aetna Inc. is a company where vision, hard work and commitment to ideals is an intrinsic part of our corporate principles. For this reason it is a pleasure for us to participate in the Anna Maria Arias Memorial Business Fund. Her vision was very much like ours,” said Marylin Alverio, Emerging Markets Director.