Enrique has been operating his business, EGY Maquinados and Diseños Industries, LLC for more than one year. He specializes in manufacturing knobs and screws. Based in Eagle Pass, Texas, he uses a specialized machine to create many different knobs and screws to sell.
Enrique visited the Small Business Development Center in Eagle Pass and was referred to Accion Texas Inc. for a business loan. He applied for a microloan and received it once his application was reviewed and approved.
He used his loan to purchase additional machinery to generate more revenue by producing more knobs and screws to sell. Enrique said, “it would take me longer to save up money to purchase a machine.” The loan allowed Enrique to buy what he needed and keep his one full-time employee too.
Enrique continues to operate his business and keep his one employee. He does not plan to hire more at this time, but says he is happy he has what he needs to continue his business and support his family.
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.