A loan of $2,600 helped buying and diversifying inventory.

Pedro's story

Pedro came to the U.S. from Colombia in 2003 with his wife. In the beginning, he was working very long hours, and the pay wasn't enough to justify keeping him away from his family for so long - in fact, he says, it wasn't even enough to support his family. That's when he had the idea to import handmade crafts from his home country and sell them in Miami. Pedro says that the accessories he imports were not well-known in Miami before he started importing them, but he has been successful in selling them. His wife chooses the inventory and gets the best deal possible, and he sells it to responsible distributors in Miami and other metro areas such as NY, LA, Houston, and Atlanta.

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.

Loan details

Lenders and lending teams

Loan details