Hector V. Barreto has been named president of Lucrazon, the company announced Thursday.
The Internet payment service provider announced the appointment in Los Angeles at the 2014 Lucrazon Global Convention, which featured presentations by former Commerce Secretary Carlos Gutierrez, former Gov. Mitt Romney and former president of Mexico Vicente Fox.
"There is no one better who understands the intersection of technology and small business as does Hector Barreto," Alex Pitt, Lucrazon founder and CEO, said in a statement.
Mr. Barreto is chairman of the Latino Coalition, one of the largest membership and advocacy organizations for U.S. Hispanic-owned small businesses, and served five years as administrator of the Small Business Administration, where he directed financial and business development programs from a portfolio of loans totaling more than $60 billion.
Mr. Barreto will continue to chair the Latino Coalition and serve as a member of the national board of the U.S. Chamber of Commerce.
He has also been inducted into the Minority Business Hall of Fame, served as a commissioner on the California Commission for Economic Development and is the founder of Business Matchmaking, a leading nonprofit small-business procurement program.
"I have been around small business my entire life and the Lucrazon business model is an effective and exciting opportunity that puts the power in the hands of the entrepreneur," Mr. Barreto said.
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