A loan of $6,000 helped to expand his inventory of automotive parts, pay for a marketing campaign and hire a second employee.

Eddy's story

Eddy worked as a welder for several years before he was able to save the money necessary to start his own auto repair business. Originally a mechanic in Guatemala, Eddy was finally able to return to his preferred profession in 2008 when he opened the automotive shop with two friends.

It has not been an easy process – not long after opening, the economic crisis hit and Eddy and his partners often had conflicting ideas about how to best run the business. As Eddy found himself handling most of the mechanic work and finances on his own, he decided to buy out his friends and run the shop on his own. “It was a challenge to grow the business on my own, and to make sure that everything got done and my workers got paid. But now the business is sustainable and it’s growing!”

Thanks to Eddy’s solid skills as a mechanic and excellent rapport with his customers, his business growth has so far been sustained largely through referrals from existing clients. A $6,000 loan will allow Eddy to expand his inventory of auto parts to serve his clients better and faster, to invest in more marketing efforts to continue to grow business, and to hire a second full-time employee to help manage the growing workload.

In another year and a half Eddie would like to open another shop, and he says his dream is, “to own an auto chain like Speedy!”

Although the recession has affected business, Eddy is optimistic about the future and is proud to be able to provide for his family. Of his children, he says, “If they want to be mechanics and work in the shop it is here for them, but for now it is important that they study. I want them to be able to be whatever they want.”

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