A loan of $10,000 helped to cover operating expenses during the slow season.


Geraldo's story

Geraldo is the sole owner and founder of Allen Consultants, a company operating in Silver Spring, Maryland since 2004. The company’s core business is to prepare corporate and individual tax returns. The company’s secondary services are to prepare small business’ financial statements, assist with 8-a certification and help businesses with the incorporation process.

The reason Geraldo is in need of financing is because of the seasonality of his business. As Geraldo explained, his peak season follows the tax season (January 15th – October 15th). The months of November and December are the slowest and it’s during this time that Geraldo’s company generates income from its secondary services, which are less profitable. Last fall, Geraldo went to the “loan sharks” for a 33 percent interest rate loan to help him get over this “hump.” He vowed to not go down that path again this fall. He turned to LEDC to help him during this lull in business before the tax season ramps back up in January 2014.

Geraldo is originally from Queens, New York. He is a trained engineer who spent many years building model trains before obtaining his MBA from the University of Maryland and entering into the accounting field in the mid-1990’s. He has two grown children who live in Missouri and North Carolina. In the future, Geraldo would like to expand his services to business clients, such as help his clients obtain small business loans, win contracts, and certify more minority firms at the state and federal level.



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Loan details