Pinnacle Group Founder, Chairman and CEO Nina Vaca, in partnership with the United States Hispanic Chamber of Commerce (USHCC) Foundation, raised $100,000 to aid small businesses devastated by April’s 7.8 magnitude earthquake in Ecuador.
The record quake left 660 dead, 27,000 injured, and destroyed countless homes, schools, businesses, and public facilities. It is estimated that 25% of small businesses were seriously damaged in the hardest-hit area.
Vaca, who chairs the USHCC Foundation, stated: “Thankfully, the acute needs of water, food, clothing and shelter continue to be addressed. However, while this disaster has already faded from the headlines, these communities will only fully recover once the local economy is stabilized. One major step toward that recovery will take place once thousands of small business owners can return to providing the services and jobs on which their families and communities depend.”
Critical funds were donated to the Ecuador Small Business Reconstruction & Recovery program by Cinemark employees, Kohl’s Corporation, the Lee Roy Mitchell Foundation, Pinnacle Group employees, members of 200 local Hispanic chambers across the country and individual donors. The USHCC Foundation is collaborating with local partners via a direct investment in the Re-Emprende initiative, which is backed by the Inter-American Development Bank (IDB), the United Nations Development Program (UNDP) and leading local private sector entities.
USHCC President & CEO Javier Palomarez said: “Working with local partners backed by international institutions, ensures that the initiative will properly identify eligible businesses and oversee the disbursement of funds, as well as monitor reconstruction efforts and provide timely progress reports.”
Vaca will travel to Ecuador for the official launch of the program, which will use the money raised to support small business reconstruction in Manta and Portoviejo, the areas hit hardest by the quake.
ABOUT PINNACLE GROUP
Pinnacle Group is an award-winning provider of workforce solutions. Founded in 1996, it includes Pinnacle Technical Resources, Inc., its flagship information technology services company serving the Fortune 500 and Provade, Inc., a global provider of enterprise-class vendor management software.
Pinnacle Group has become one of the largest firms in its industry, with several thousand consultants across the United States and Canada. Provade provides services in over 60 countries and manages more than $2 billion of transactions annually. For more information visit www.pinnacle1.com and www.provade.com.
ABOUT THE USHCC
The USHCC actively promotes the economic growth, development and interests of more than 4.1 million Hispanic-owned businesses that, combined, contribute over $661 billion to the American economy every year. It also advocates on behalf of 260 major American corporations and serves as the umbrella organization for more than 200 local chambers and business associations nationwide. For more information, visitushcc.com. Follow the USHCC on Twitter @USHCC.
ABOUT THE USHCC FOUNDATION
The mission of the USHCC Foundation is to enrich the experiences of future leaders in the world of business through life-long learning and support. The Foundation’s initiatives awaken and nurture the entrepreneurial spirit, support business growth, strengthen local chambers and foster leaders. Please visit www.ushccfoundation.org for more information.