A loan of $10,000 helped to buy inventory for his beauty supply company in Beltsville, Maryland.

Ricaurte's story

Ricaurte is a native of Colombia. He is married and has one child. Ricaurte has more than 12 years of experience as a beauty supply store manager. A couple years ago, Ricaurte started planning to have his own business. He started working with LEDC Small Business Department receiving technical assistant to create a business plan, implement his accounting systems, and obtain his licenses.

Finally this year, he found a good location to start his business in Beltsville, MD. With a LEDC loan of $10,000 and his own savings, he quit his job and signed a lease agreement to open his beauty supply store and fulfill his dream to be the owner of his own business. He is hoping to have the same success as in the other stores that he managed. That will give him the additional income to support his family, buy a new house, and send his child to college.

Loan details

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Loan details