ACCION EAST RECEIVES $1.75 MILLION FROM CDFI FUND

Vida'sAtlier

Vida’s shop sells dresses for special occasions—proms, quinceaneras and weddings. She’s been doing this a long time; her mom owned a shop just like hers when she was growing up in Nicaragua. Today, Vida’s own shop in Miami supports her and her young son, and employs two people. “It can be challenging, balancing being a mom, wife and a strong business owner,” says Vida. When Vida needed financing to purchase some new equipment for the store, she didn’t have many options. She was too small for bank financing and her cash flow wasn’t consistent.

She was referred to Accion by her bank, where she did qualify for a loan. Her business is growing, and soon she may be ready for an even larger loan. Thanks to a recent grant from the Community Development Financial Institution Fund, Accion will be there for Vida when she’s ready to grow.

We’re proud …

 

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