Abel R. and his wife, Ingrid, will use this loan to buy a van and equipment to start a carpet-cleaning business. They bought this business from a friend and are keeping the same name, Royal Steamers, and hope to maintain the prior customer base. Abel currently works at the Texas Department of Motor Vehicles, and his wife has her own business of doing accounting and bookkeeping for truck drivers. The couple plan to maintain their other jobs and manage this on the side. Abel says, “My wife and I are really productive. We constantly have side projects going on. It’s our lifestyle.”
They are in the process of training an employee right now, and hope to eventually hire more employees in order to contribute to lowering the unemployment rate in El Paso. They also look forward to expanding their business to the commercial sector. Abel is a proponent of microcredit: “I have seen people who have lost their jobs and had hardships and it’s really hard to get back on your feet. I’ve then seen these people get loans and create their own jobs. It’s something great.”
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.