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Local business thanks ACCION for micro-loan

EL CENTRO, Calif. – Some local dogs are hitting the streets in good grooming style. El Centro’s The Dog Groom owner Mende Cardona says it’s thanks to ACCION.

They are a San Diego based micro-lending organization that has recently opened its doors in the Valley.

“They’re the ones who helped me actually get my foot in the door and buy the stuff I needed to open up the doors,” says Cardona.

Cardona says she received a sizable loan to get her started. Now she’s been open for over two weeks.

“Tables! I bought my tub! I bought kennels!” Cardona said.

ACCION CEO Elizabeth Schott says they’ve already provided several Valley loans, “We started receiving applications last summer for loans in the Valley and we’ve funded 13 loans of $110,000.”

They fund a variety of business types. “From trucking businesses, to a dog groomer, to a couple of restaurant delivery services, home-based day-cares,” Schott says.

The average loan is about $10,000.

Schott says that can go a long way in helping a new business, “Trailers for their trucking company, inventory or permits, maybe supplies.”

She says they specialize in helping those who may not qualify with traditional banking loans. But they combine the capital with other help as well.

“A lot of wrap-around education that we do with these small businesses in order to propel their long-term success.”

ACCION Business Development Officer Diana Moreno-Inman says they recognize that access to capital in the Valley is a strong need.

“The next step is for us to start receiving the applications so that we can process them and we can give out these small business loans and start creating success stories,” Moreno-Inman says.

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