North Carolina Client: Lorena Muñoz-Holladay
Empowering the Hispanic Community with Financial Literacy
Originally from Santiago, Chile, Lorena Muñoz-Holladay saw a critical need in Winston-Salem, NC: access to financial literacy and guidance in Spanish. Driven by her desire to support her community in their own language, Lorena launched Pilar Financiero. Established in 2021 and fully operational as an independent business in 2024, Pilar Financiero provides personalized financial coaching, document translation, 1099 Form assistance, and group workshops. Lorena is frequently called upon by organizations to lead workshops and webinars in Spanish, covering both psychological and financial well-being.
The Story Behind “Pilar Financiero”
Born as Lorena Del Pilar in Chile, she became Lorena Holladay after moving to the United States and marrying. Inspired by her husband’s suggestion, Lorena chose “Pilar” for her business name to honor her heritage and symbolize strength and stability. In both Spanish and English, “Pilar” signifies support, aligning with Lorena’s mission to be a financial pillar for those needing guidance and resources in their own language.
Finding a New Path with Prospera’s Guidance
Lorena discovered Prospera through an online search while looking for resources to effectively launch her business. At the time, she was transitioning to full-time self-employment and needed guidance on structuring and growing her business. Prospera’s one-on-one business consulting gave Lorena clarity on her business’s strengths and areas for improvement, helping her map out a strategic plan to identify key providers, target audiences, and outreach strategies. Through Prospera’s business seminars, she broadened her entrepreneurial skillset, refined her business model, and connected with a valuable network of fellow small business owners.
A Vision for Growth and Independence
Looking to the future, Lorena plans to expand Pilar Financiero by developing an online financial course, allowing clients to access resources at their own pace. This goal reflects her dedication to empowering her clients with the tools they need to navigate financial challenges confidently. With Prospera’s support and her commitment to individualized services, Lorena is well on her way to expanding her reach and impact.
Advice for Aspiring Hispanic Entrepreneurs
Lorena encourages aspiring Hispanic entrepreneurs to take time to thoroughly understand their market, noting that having a strong idea is only the beginning. She advises preparing financially, with savings to cover six to twelve months, as the path to profitability can be unpredictable.
