Damion J. started his construction company, Rock Enterprises Construction, 11 years ago in New Orleans when he realized that many of his friends and family who hired businesses to do repairs were often charged unreasonable prices. He started his business to provide affordable and quality work to residents of New Orleans and has since moved to the commercial and industrial sectors. Five years ago, Damion had to shut down his business after Hurricane Katrina hit the Louisiana coast. Through perserverence and hard work, Damion was able to pull his business together. There was fewer work with fewer people in New Orleans, and also, less people willing to invest in their homes. For people who needed renovation, many unlicensed contractors came to New Orleans and took advantage of that demand. All these factors contributed to making it very difficult for Damion to build his business back up again.
This same situation has happened again with the recent oil spill. Damion had seven large residential projects planned before the oil spill that would have brought almost $ 1 million to his company. However, because of the oil spill devastating the area, investors were not as willing to invest in these homes and decided to not go through with the projects. Damion and his 15 employees had been counting on those projects and now he does not have enough money to tide the business over until they get their next big project, which is currently under way. With this loan, Damion plans to pay his employees and rent big machinery. Without this loan, Damion would not be able to complete this big project and would be forced to let go of some of his employees.
LiftFund. (www.liftfund.com) is an award-winning nonprofit organization (previously known as Accion Texas) with a mission to provide credit and loans to small and start-up businesses that have limited or no access to credit from commercial sources. Established in 1994 in San Antonio, LiftFund has helped Texas and Louisiana entrepreneurs strengthen their businesses, stabilize and increase their incomes, create employment, and contribute to the economic revitalization of their communities. Learn more at www.liftfund.com.