James Gutierrez Takes A Bold Step On Fixing A Broken Economic System.
The economic gap is taking a toll on Americans. That is courtesy of the COVID-19 pandemic. Many people are tired of the enormous wealth gap between the poor and the rich households. The government is equally overwhelmed, thus, sitting and waiting for its helping hand will not bear fruits at all. Many business leaders are joining the fight to seal the gap, which is affecting everyone. James Gutierrez is one of those leaders. He knows the Americans are fed up with the situation and are an angry mob. The business leader believes that an approach he terms as a middle-up direction will help salvage the situation.
James Gutierrez says that if companies take up the challenge, they will help improve the lower-income households and move them to a higher income bracket. With the sole aim of making the households more stable, the government and companies can collaborate to change the situation. This is possible by offering financial services like loans and credits. James Gutierrez points out that it is quite expensive to be poor in America. When you are poor, your credit score gets low, or you don’t have any. If you apply for utilities and other services like insurance, it will cost you a lot of money. You are poor, but you end up paying more. Same case to business funding; if you want a loan and have no sparkling credit score, you have to face higher interest rates.
Most probably, the higher rates will make you default as you face disproportionate hardships. The situation will get worse for you and leave you in deeper financial trouble than before. James Gutierrez Fintech companies Aura and Oportun help people in such a scenario to secure financial opportunities. Through these two companies, the more low-income households have secured funding for their businesses. These companies leverage innovation and technology where they provide treat the consumers’ financial health. Gutierrez’s goal is to help them get a credit score, the initial step of getting any funding in the country.