Don has a full-time job working with the United States Government. He was also looking for a way to create a stream of extra income and become his own boss, so he researched possible businesses. He discovered an ATM (Automated Teller Machine) franchising opportunity which met his criteria. By placing and maintaining ATMs at hotels and other travel businesses in the Washington D.C. area, Don earns part of the convenience fee busy travelers pay.
Don’s ACCION USA loan will allow him to expand by adding another ATM placement. He plans to continue growing his business, hoping to eventually hire staff.
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 ten 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.