Tag Archives: Accion

Small Size No Deterrent for Nonprofit Lender DreamSpring

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Charles Riley obtained a DreamSpring loan for his “solarlite” business. Article by Roger Makin.

Entrepreneurs come in all shapes and sizes, but they all share a love of what they do and the desire to further their endeavors.

For Charles Riley of Carrizozo, entrepreneurship began at an early age. He built his first house at age 21 on land donated by his parents. It was at that time he also started building and selling furniture as a hobby.

While serving as a firefighter in Stratford, Connecticut, Riley simultaneously worked a full-time construction job. As he put it, “I loved the job as a firefighter, but it also had very flexible hours.”

At one point he owned an art gallery in Sun Valley, Idaho. But Riley’s path eventually led him to Carrizozo, New Mexico, where he offered to build a house for his daughter. The construction project became his when his daughter decided to move back to Vermont. Riley finished the house, moved in and stayed. Continue reading →

Loan Keeps Bakery at Top of Critics’ Lists

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Pratt and Chris Morales in their Albuquerque bakery, Golden Crown Panaderia. Article by Sandy Nelson.

It’s one thing for a bakery to boast about its own tasty products, but it’s quite another for the publisher of a foodie blog to broadcast rave reviews from around the world and add a few superlatives of his own.

Gil Garduño, publisher of Gil’s Thrilling (and Filling) Blog, has eaten at more than 1,000 New Mexico restaurants over the past decade and calls Golden Crown Panaderia “the very best bakery in Albuquerque.” In a mouth-watering 2016 review, Garduño describes the artisan breads, pizzas and pastries that the family-owned, Old Town-area business has been making since 1972 and adds, “This humble Panaderia has been consistently ranked by TripAdvisor, the world’s largest travel community, as one of the top five out of 1,235 restaurants in the Duke City. Golden Crown receives similar praise from Yelp, while Lonely Planet, a French publication, calls Golden Crown ‘Albuquerque’s best place to eat.’ ” Continue reading →

Startup Resources Intrinsic to Business Success

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With help from Accion, ‘magic,’ passion, comfort with risk are other key ingredients.

Daven Lee, Owner of Love+Leche; Article by Sandy Nelson

Borrowing money to start or build a business entails taking risk — not just for the lender but also the borrower. But unless the entrepreneur has rich relatives or massive savings to draw on, securing capital usually requires multiple loans over many years to start and expand a business.

Daven Lee has tapped into New Mexico’s many small-business resources over nearly two decades to turn Love + Leche from a home-based maker of handmade soaps and lotion bars — made with milk from her own goat herd and other natural products — for retail sale into a viable year-round business that gets about half its revenue from wholesale markets throughout the U.S. and in Mexico, England and Australia. Continue reading →

Strength without Splash: Small Businesses Generate Steady Growth

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Joseph H. Badal

Joseph H. Badal, Board Chair and President, NMSBIC

When avionics supplier Bendix/King and power grid connector Tres Amigas each selected New Mexico as their new administrative headquarters, the announcements represented the kind of economic development most regions aggressively seek. Bendix/King, a Honeywell subsidiary, is expected to create up to 100 new engineering and support jobs by the end of 2012. Tres Amigas, which plans to connect three regional power grids at their superstation in Clovis, will create 15-20 jobs in Clovis, 75 – 100 high-paying jobs at a new administrative office/control center in Albuquerque and untold jobs when it completes construction of a 15,000-to-20,000 square foot training center in Rio Rancho. All of these projects are examples of classic economic development: The jobs they create are new and originate outside the local area.

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Lender-Client Relationship Built on Trust, Mutual Benefits

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Jordan van Rijn, NM Loan Officer, Accion New Mexico ∙ Arizona ∙ Colorado

By Jordan van Rijn, NM Loan Officer, Accion New Mexico ∙ Arizona ∙ Colorado

Mauro Nava’s seven-year relationship with microlender Accion New Mexico ∙ Arizona ∙ Colorado paid off when the Mexico City native and his Ukrainian-born business partner, Olena Dziuba, decided to open a health clinic to serve residents of Albuquerque’s underserved South Valley. Clínica la Esperanza opened in October 2011 at Bridge and Isleta boulevards with seed money from the two partners to remodel the building and a line of credit from Accion to pay bills until the business started generating revenue.

Nava first contacted Accion in 2005 for funds to start a mobile radiography business called On-Site Radiography. Nava’s perfect payment history on past Accion loans made him a good candidate for the most recent investment. Continue reading →

More than Microloans: Accion Helps Trio Launch New Brewery

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Walt Taylor

Walt Taylor, Commercial Loan Officer, Accion New Mexico ∙ Arizona ∙ Colorado

A new brewery is coming to Albuquerque in June, run by three local beer-loving entrepreneurs. Bosque Brewing is the brainchild of partners Jotham Michnovicz, Kevin Jameson and Gabe Jensen; in their corner is nonprofit lender Accion, which extended a loan of $100,000 to help the partners build a brew house and cover their initial operating expenses.

The idea for the brewery started two years ago, before any of the partners had ever made a batch of home brew, Jameson said. The three were united by longtime friendships, one family tie — Michnovicz and Jenson are cousins — and membership in the same church. All three attended New Mexico State University in Las Cruces.

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