Micro-lender helps local businesses with combined quarter-of-a-million dollar loans

The San Diego-based micro lender ACCION said times are tough everywhere and jobs are scarce. So, they’re helping people become their own bosses with loans totaling a quarter of a million dollars combined this year.

ACCION Chief Strategy Officer Valery Belloso said, “We’re here to support entrepreneurs at any stage and individuals considering business as a way to create an income for themselves and for their household. Potentially to create some jobs for others and make the labor market here in the imperial valley stronger.”

We met with ACCION officials on Tuesday at an El Centro restaurant they helped with a loan.

“The loan was really to help this business not only to get the doors open by investing in equipment, investing in tenement improvements,” Belloso said.

They said they helped the owner get over the fear of applying for a loan.

“To help walk him through our loan process and be able to take the history that he had with his existing business and the business model that he had and apply it to what he projected to do for this one,” Belloso said.

ACCION helps different types of businesses.

“Ranging from home-based businesses like hair stylists that has a salon at home or somebody who makes baked goods to food delivery services, in-home daycare, restaurants,” Belloso said.

They’ve helped 45 businesses so far with a combined loan of nearly $700,000 dollars since two years ago.

“Buying a new piece of equipment. They can be used for hiring that next employee. Could be used for startup capital to open the doors,” Belloso said.

ACCION’s new local business developer, Larisa Vega, said she wants to make a difference in the area.

“My goal for my community is to work with businesses hand-in-hand to help them grow out their business and help them buy more assets for their business in order for them to grow out because here in imperial valley we don’t have much resources to help them out,” Vega said.