A loan of $5,225 helped to hire an employee to increase business capacity.

Frank's story

Frank L. owns Business Startups, LLC, whose mission statement is "to enhance the skills of entrepreneurs with tools and expertise for success." Business Startups helps entrepreneurs with setting up an accounting system, website design, and business formation (for corporations and LLCs). As an attorney, Frank has 25 years of legal and accounting experience, and has extensive experience working with for-profit and social entrepreneurs.

Located in El Paso, Frank opened Business Startups this past January, 2011. His biggest challenge at the moment is marketing. Frank has an assistant who helps with managing the workload. Like Frank, his assistant works with clients by helping them prepare for small business ownership. Aside from Frank and his assistant, Business Startups hires an independent contractor to help clients design their businesses’ web pages.

Frank is using this loan to help handle the initial cost of his assistant as well as other smaller operating costs. He says that even though the loan was small, "it took me over a hump and enabled me to launch my business with a more complete website, an employee and a strong infrastructure." Without this loan, Frank says getting Business Startups on its feet would have been more difficult.

ACCION Texas-Louisiana was Frank’s first choice for taking out a loan, and is the first loan he has taken out for his business. "I have known about ACCION for many years. I believe in its philosophy and the concept of micro loans. I also know many people at ACCION. It is a great organization with great people."

Mr. L.’s advice to other small business owners is, "… dream big, plan carefully, be persistent, work hard and have faith." On his website, he gives free advice and examples of essential things to consider when starting a business. This helps entrepreneurs understand the preparation needed for starting a business, and how Business Startups can help meet those needs with expert advice and planning.

Check out the Business Startups, LLC website at www.bsups.com.

Loan details

Lenders and lending teams

Loan details