MILWAUKEE – As a Latina entrepreneur in Milwaukee, Cristina Villanueva, 40, spends much of her time not just preparing taxes, but explaining them.
She helps immigrant business owners navigate a financial system that can seem foreign to them.
Her approach to financial literacy is shaped by her own experiences. Villanueva was born in Guadalajara, Mexico, and grew up undocumented in the United States with a single mother.
“You feel that you’re in both worlds,” Villanueva said of her upbringing. “But I feel like it’s an advantage that you’re able to speak both languages, understand both cultures, and to me, it’s a blessing.”
Villanueva has carved out a niche for herself in Milwaukee, as a business owner, a community leader, and an entrepreneur. But working in finance wasn’t her first dream. When she wanted to enroll at Santa Monica College in California, she was hoping to qualify for in-state tuition and to study law or medicine, but her advisor was upfront with her about her prospects.
“She told me, ‘You are undocumented. You don’t have a Social Security [number]. The career path that you’re trying to go into, you’re not gonna be able to practice it. The only option here that you’re gonna have is [to] own your own business,’” Villanueva said.
Despite the setbacks she faced, Villanueva went on to earn her bachelor’s in business administration from University of Wisconsin-Milwaukee.
Courtesy of Cristina Villanueva
After graduating, she worked in the corporate world, where she saw franchise owners–mostly Hispanic and Spanish-speaking–who knew how to do their job, but weren’t taking advantage of financial structures that could help them. Many were making mistakes, like paying workers in cash instead of putting them on payroll, and missing out on deductions and longer-term planning, Villanueva said.
Witnessing that gap in knowledge led her to start Ambas Financial Services in 2018 on 4353 South 27th Street in Milwaukee, a bilingual accounting business that focuses on consultation and strategy rather than just paperwork.
“Most of our conversation with our clients is about their life, their family, their future, and numbers is the simple part,” Villanueva said.
Her belief in connecting at a human level goes back to high school. Villanueva said her finance teacher at South Division High School, Vicki Kalman, was one of the first people to recognize her potential. She encouraged Villanueva to pursue college, despite her undocumented status.
“Never once did she say, ‘You’re right. You’re not gonna be able to do it.’ She always said, ‘You got this,’” Villanueva said.
In addition to Ambas Financial, Villanueva started Cultura Hub last year, a small business incubator and coworking space located on 1107 W Oklahoma Ave in Milwaukee. She also serves as the executive director of Conexiones, a nonprofit organization focused on financial education, entrepreneurship and mentorship for the Latino community in Milwaukee.
This summer, as part of Conexiones, Villanueva started a book club, “Brew Your Wealth”. The books are offered in English and Spanish, addressing wealth-building strategies and the unique challenges faced by children of immigrants navigating two distinct cultures. Villanueva said the program has been successful, with over 40 people signed up.
“What people want to know is that they’re not alone on this journey. It’s creating that community. We laugh, we cry, we share stories,” Villanueva said.
Education is also part of Villanueva’s work with Cultura Hub. With a recent grant from the Wisconsin Economic Development Corporation, she hopes to offer classes for the businesses it houses, teaching them how to market themselves and manage revenue and profit.
That work is part of the broader challenges undocumented immigrant business owners face. Villanueva has witnessed the impact of immigration policy. One business owner, who came to the U.S. from Guatemala, currently faces an order of deportation.
“It makes me think, why her? She pays over $30,000 in taxes every year. She has employees, she contributes. Why is there an order of deportation for her?” Villanueva said.
Courtesy of Cristina Villanueva
In the U.S., anyone without a Social Security Number uses an Individual Taxpayer Identification Number, or ITIN, to file their taxes. Immigrants who are filing their taxes with an ITIN still contribute to Social Security and Medicare, even if they may never receive those benefits themselves, Villanueva said. She has also seen the economic impact of the companies she works with on their communities.
One of her clients is a construction business that generates $2.5 million in revenue and employs roughly 30 people on Milwaukee’s south side. For Villanueva, that is an example of the success that comes from believing in the potential of her community.
“I’m not driven by the millions of dollars that you can have. I’m driven by the change that you can create in a community,” Villanueva said.
Abbey Osborn is a bilingual journalist and teacher based in Milwaukee. They grew up in Illinois and are a graduate student at Craig Newmark School of Journalism. They enjoy biking, reading and a good cup of coffee.
Cover Photo: Courtesy of Cristina Villanueva