A loan of $8,000 helped to hire an employee.

Felicia's story

After being laid-off from a newswire agency in 2004, Felicia, originally from Guyana, decided to start-up her own public relations agency. She runs her business out of her home, and works primarily on public relations in the Caribbean. On occasion, Felicia also writes for a daily newspaper in New York.

The turning point in her business was being contacted by an India-based company to do their ad placements in the Caribbean, Africa, and Latin America. She has successfully serviced their account for several years. In addition, she has recently been inundated with all the newswire hits on Haiti.

Felicia contacted ACCION USA to provide her with the funds needed to hire a new staff member. She hit some struggles with her business during the economic downturn in 2008, but since then she has been doing her best to build her business. Her current staff of part- and full-time employees needs to be expanded to continue to successfully grow her business.

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.

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