Lonnie has more than 20 years of experience in the catering and delivery service business. In his hometown of New Orleans, Lonnie is hired to cater many special events. He has only been in business less than six months, but already has seen exponential growth with the help from Accion Texas, Inc.
In order to continue booking local events, Lonnie needed funds for start-up capital and part-time salaries. A friend of Lonnie’s told him about Accion and how it could help his business. Once Lonnie inquired and applied for a microloan, it was a short turnaround to receive an approval.
The Accion loan allowed Lonnie to pay his four part-time employees, purchase supplies and food, and have start-up capital for his new business. Without the loan, Lonnie’s business plans would have changed. The Accion loan allowed expansion plans to continue on track and hire additional staff.
Thanks to the loan, Lonnie says his business will grow faster than he imagined. Lonnie is excited about the growth and looks forward to securing more events and offering his exceptional catering services.
About Accion Texas Inc.
Accion Texas Inc. (www.acciontexas.org) is an award-winning nonprofit organization 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, Accion 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.acciontexas.org.