Pedro will use this loan to increase his inventory, and he says that clients have requested more products that he does not have at the moment. He says the loan will also help him increase his inventory in preparation for increased demand during the holiday season. In the future, he hopes to start importing items from other countries, such as Peru and Mexico, directly from the local craftsmen and women who make them.
About U.S. Microfinance and ACCION USA
Have you ever thought about how the cute new café on your corner or the salon you frequent every month got the financial resources to start their business? Chances are, they drummed up support from their friends and family, dipped into their personal savings, used a high-interest credit card, or all of the above. An estimated 10 million small businesses in the U.S. face difficulty obtaining loans from traditional banks, even prior to the current “credit crisis.” Microfinance institutions like ACCION USA support these “unbanked” small businesses by giving them access to fairly-priced capital and business education.
Small businesses also help stabilize low- to moderate-income neighborhoods and rebuild our economy through income growth and job creation. Self-employment provides workers with a way to increase their incomes, support their families, and strengthen their communities. As unemployment rises in the U.S., more and more people are turning to self-employment and start-up enterprises as a way to take control of their economic futures and provide employment opportunities in their communities. The need for support of small businesses in the U.S. is great, and it is one that ACCION USA has been striving to meet since 1991.
About United States
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