Find what you need to grow your small business at Accion – from customized loans and training to a community of support. Below are stories of how we've invested in small businesses in your community and across America.
Attention Food and Beverage Entrepreneurs: Enter for a Chance to Win $10,000 and a Year of Mentoring from Samuel Adams
It’s your last chance to enter the Brewing the American Dream Wild Card Competition! Do you (or someone you know) have a great food or beverage idea you want to take to the next level? Be sure to check out the Brewing the American Dream Wild Card Competition recently kicked off by Samuel Adams and Entrepreneur Magazine! Get the details here. Applications close this Thursday at 11:59PM!
THE HARTFORD OFFERS DIGITAL PUBLICATIONS TO AID SMALL BUSINESS OWNERS
The Hartford offers two essential digital publications for small business owners, The Business Owner's Playbook and Small Biz Ahead. Using the Business Owner's Playbook, entrepreneurs can view content based on the status of the business: new, growing or mature. The topics range from growing a startup team to developing an integrated marketing strategy. This range of topic areas allows for small business owners to accelerate their business growth. Small Biz Ahead is an e-magazine filled with timely articles which offer tips and lessons for entrepreneurs. The content focuses on current issues effecting small business owners, and aims to help with the day to day running of a business. Head over The Hartford to learn more about these informational opportunities!
SURVEY FINDS WAYS CONSUMERS ARE MOVING FURTHER AWAY FROM BANKS
Financial exclusion affects consumers on both the national and global scale. With other means of managing capital gaining popularity, the Consumer Financial Protection Bureau (CFPB) has proposed legislation to regulate the alternative banking landscape. General-purpose reloadable (GPR) prepaid cards are an example of alternative capital management, and are increasingly becoming an essential financial tool for consumers. GPR prepaid cards are used similarly to debit cards; they can be reloaded through direct deposit or with cash, are able to be used at ATMs, and are capable of in-store purchases. Between 2012 and 2014, use of GPR prepaid cards among U.S. adults grew by more than 50 percent.
According to the CFPB’s proposed prepaid rule, “The lack of access to checking accounts and other types of more established financial products and services such as credit cards appear to be the key driver of their use of GPR cards.”
A study published in June 2015 by The PEW Charitable Trusts reports the motivations behind prepaid card use for over 500 consumers, representing an estimated 23 million Americans, who use prepaid cards at least once a month. The report details insights on the attitudes, knowledge, and perceptions of the prepaid banking consumers, some of which include:
Prepaid card use is becoming more common.
Unbanked prepaid cardholders use their cards more like traditional checking accounts.
Prepaid cards are often used as a budgeting tool.
Most prepaid card users do not know whether their funds are FDIC insured or whether their cards have an arbitration clause.
Many prepaid cardholders who are covered by liability protections do not know it.
The Pew Charitable Trusts iterates the need for federal regulation and protection of consumers through the Consumer Financial Protection Bureau (CFPB) proposed regulation. Consumers using this financial tool in lieu of traditional banking should be protected under federal law. In support of GPR prepaid cards, Pew outlines additional features that could be added to make the financial tool more relevant and useful for consumers. Pew underscores the lack of knowledge surrounding prepaid cards, and the potential for the bureau to help educate consumers through clear labeling and packaging.
With numerous exploitive financial services in the market, GPR prepaid cards are being considered an interesting alternative solution. Many believe through further regulation calling for transparency, consumer protection and financial education, GPR cards could be the future of complete financial inclusion nationwide.
To learn more about this study, head over to The PEW Charitable Trusts
Michael Hormozi, owner of MAK Cleaners in San Diego
Michael Hormozi began working in the dry cleaning industry by paying his way through college working at a local dry cleaning company. Throughout those years, he learned about the industry while helping with the accounting and deliveries for the company. In 2006, Michael joined MAK Cleaners, a local San Diego dry cleaning company located in the East Village, a downtown urban neighborhood that is in the process of being redeveloped. During this time, Michael managed the finances and maintained and improved the day-to-day operations of the company. In 2008, when the economy crashed, the local dry cleaning company struggled to stay afloat. While sales dropped by more than half, Michael was able to keep the locations open and running. Michael’s ultimate goal, however, was to save money to start his own dry cleaning company and to learn as much as he could about the industry.
After nearly 10 years of saving money and working for MAK Cleaners, Michael achieved his dream of owning a business. Michael acquired MAK Cleaners’ commercial dry cleaning plant and all of the equipment. This plant services all of their drop-off agencies located in the East Village. He also acquired existing contracts with several large corporations in San Diego.
In 2015, Michael received a loan from Accion to purchase the equipment needed to open his own drop-off agency. He is also using the loan funds to pay the remaining payroll costs for the independent contractors to complete construction of the new agency and to get the building up to code. After establishing his own drop-off agency, Michael’s ultimate goal is to acquire all of the existing MAK Cleaners drop-off agency locations.
As Michael continues to expand his business in the East Village, he realizes the impact that his business is making in the local community. For the last two years, Michael has served as a board member of the East Village Association, a nonprofit organization that supports and promotes businesses in the East Village to help establish the community as San Diego’s livable, urban village. Michael joined the board to not only provide an additional opportunity for business exposure, but also because he is passionate about investing in the local community. In addition, as a member of the Board, Michael participates as a guest speaker in an annual small business conference to teach local entrepreneurs how to start their own businesses.
As a small business owner, Michael is passionate about supporting the local economy. He hires employees who live in the community and is committed to maintaining a good relationship with his employees. He has also worked with San Diego’s unemployment department and has employed one person through a job placement program.
Thanks to the partnership between Accion and The Hartford through its Communities with HART program, Michael has become an important stakeholder in his community. Michael believes that if his business is going to be a part of the East Village community, he has the responsibility of investing in and influencing its redevelopment.
Nicole Vasquez, Owner of The Shift, a Local Coworking and Community Space
“Chicago is a very neighborhood based community, yet all the coworking spaces I found were downtown, removed from the neighborhoods.” - Nicole Vasquez
Nicole Vasquez knows the challenges of working outside the traditional office setting– whether it’s trying to find a suitable space in your home or fighting for a table at a coffee shop. With the rise in coworking spaces, Nicole saw an incredible opportunity to create a flexible and welcoming atmosphere for coworking and community education. Nicole understands the connection Chicagoans feel to their respective neighborhoods, however, most coworking spaces are located in the downtown area, far removed from the communities in which workers reside. Nicole saw this as an opportunity to create a space in her own neighborhood of Uptown.
Nicole was confident that her community would benefit from The Shift, but struggled to find the capital to make it happen. In 2014, Nicole reached out to Accion and was able to get a $7,000 microloan, thanks to a partnership between Accion and The Hartford through its Communities with HART program. Through the Communities with HART program, The Hartford supports small business owners like Nicole who are having a positive impact in their community. After a year of researching and planning, Nicole opened the Shift in a former laundromat two blocks from her home in November 2014. “Our experience with Accion was wonderful and we will definitely return to get another loan as the business continues to grow,” Nicole said.
The Shift is located in a bright retail space that keeps its doors open to the community. With 30 work stations and an innovative “shift model” the space never feel too crowded and allows members to come and go at their convenience. The Shift strives to offer
a space for non-traditional work schedules and offers access 24 hours a day seven days a week, locker storage, mailbox service, and business concierge service. While many traditional coworking spaces alienate certain work schedules, this is yet another way that The Shift works to empower the community.
What sets The Shift apart from the many coworking spaces popping up in Chicago is the hyperlocal focus Nicole has worked to maintain. Apart from the traditional open work space found in most coworking spaces, The Shift offers many community classes and events. The presenters, many of whom are members of The Shift and the local community, are all industry professionals sharing their skills and ideas. Classes cover topics from Google Analytics, to Short Story Writing, to Social Media Marketing. In addition to these classes, office hours are available with industry experts in various areas in order to offer more personalized one-on-one consultations. Nicole sees this as an opportunity to enrich the community and offer her members more than just a space to work.
Another feature of The Shift that sets it apart from other coworking spaces is its open-industry policy. While many of the downtown coworking spaces are tech-focused, The Shift has members from a wide range of industries, backgrounds, and demographics. Members range from ages 22 to 60 and from backgrounds in public education, non-profit management, marketing, writing, consulting, art, design, and web development.
“I believe in what I do because I’ve seen it change peoples’ lives.”- Stacy Watnick
Stacy Watnick started her career as a psychologist at The Center, the nation’s second oldest and one of the largest LGBTQ community centers. In 2003, Stacy started her own practice in order to have a more flexible schedule as a working mother of two small children. Since then, she has been successful and has developed a niche in providing services to the LGBTQ community in San Diego. She has promoted her business through the local community, and remains dedicated to providing an essential service to improve the overall health of the LGBTQ community.
Now that Stacy’s children are older, she is ready to bring her business to a new level. While Stacy was looking for capital to support her business expansion, she was also looking to receive technical assistance and business training.
Thanks to the partnership between Accion and The Hartford through its Communities with HART program, Stacy is expanding her psychology practice to include workshops and consulting services is developing new marketing strategies to reach a wider audience.
Though many therapists and psychologists are available to help the LGBTQ community, some still do not receive adequate mental health care because of a lack of knowledge or training. Stacy is committed to always remain current on the unique needs of this community.
Over the years, Stacy has become an expert in issues related to sexuality, gender identity and trauma. She is also a Probation Certified Domestic Violence Facilitator and Supervisor and has worked with many patients with substance abuse issues. Recently, Stacy presented at Christy’s Place, a nonprofit organization in San Diego that provides HIV/AIDS education, support and advocacy to women, children and families impacted by HIV/AIDS. She is also still involved with The Center and offers pro bono presentations and helps train interns who are working towards becoming therapists.
Stacy’s goal is to increase her business’ visibility by networking, investing in more signage for her office location and growing her consulting services. She has also been working with the Greater San Diego Business Association, California’s largest LGBT business organization, to be listed on their business directory.
Stacy is most inspired when she sees her patients able to accomplish what they set out to do, in her office or in their lives in general. “I believe in what I do because I’ve seen it change peoples’ lives.”
Nick Romero, Owner of Rawknykz Barber Shop in San Diego, CA
“The barbershop is the neighborhood community center.” - Nick Romero
Nick Romero started cutting hair in his hometown of Miami when he was 14. “Where I come from, the barber shop is the neighborhood community center,” Nick said. Ever since, Nick’s dream has been to open up his own barbershop. When Nick joined the military in 2009, he spent his free time cutting hair in the barracks, at school and even while deployed in Kuwait and Iraq.
Upon his return to San Diego, Nick continued cutting hair out of his garage and established many local connections at nearby military bases. He would host what he called “Barber Sundays,” where he would cut his friends’ hair in his garage. Not long after, Nick gained more popularity and found himself cutting hair from morning to night. As he built up a steady and loyal clientele base, Nick decided it was time to open up a barbershop to keep up with demand. He received his first Accion loan in 2011 for $15,000 to open up “Rawknykz Barber Shop” with four barber chairs that he rented out on a monthly basis. With those funds, Nick was able to create three new local jobs.
What Nick loves the most about running his business is that he is able to “give the customers a place to call home.” Accion’s partnership with The Hartford has helped transform his barber shop into a gathering place for youth, veterans and local members of the community. It is now a destination for people to talk about local issues and happenings.
Rawknykz Barber Shop has always been dedicated to serving the military community – both active members and veterans. Not only does Nick provide barber service tailored to the military community, he has created a community space for members of the military and their family members to convene. He is very knowledgeable when it comes to the requirements for military haircuts and caters the hours of his barber shop to military men who need haircuts at varying hours of the day.
Nick is also active in his community during his free time, serving on a local community council, volunteering at his daughter’s school, and participating in local art projects. Since opening up his barber shop four years ago, Nick has seen continued demand for his shop’s services. They are now open seven days a week; many times with a line formed outside the door. In January 2015, Nick received his second Accion loan for $10,000 to upgrade the look of the barber shop to be more modern and sophisticated, while still displaying its urban roots. He also added two new chairs to rent out to barbers, hired a full-time braider, and created a new local job. Nick’s future plan is to open a barber school to train barbers how to cut hair and how to create active community centers in their own neighborhoods.
Erika Ewer, Owner of Community Acupuncture Practice in Chicago, IL
“Clients pay what they can and are encouraged to stay as long as they need.”
- Erika Ewer
After six years of providing acupuncture as a private practice, Erika Ewer, owner of Life in Balance Community Acupuncture, decided she wanted to create greater access to the healing powers of acupuncture to her community, regardless of income levels. Based on the successful community acupuncture model started in Portland, Oregon, Erika saw the opportunity to help her community with alternative solutions to ailments ranging from chronic pain to seasonal allergies.
The community acupuncture model provides a sliding scale of price options. Patients decide what they are able to pay based on their own budget. Whereas most private practices in Chicago charge roughly $70.00 per session, patients of Life in Balance Community Acupuncture pay as low as $15.00. The business is located in the neighborhood of Uptown/Buena Park, a very diverse neighborhood that has suffered from gang activity and violence. Community-minded businesses like Erika’s are an asset to the neighborhood and bring together neighbors in a relaxing and healing space.
Life in Balance Community Acupuncture is set up similar to acupuncture clinics in Asia, as you walk in the space you immediately notice the relaxed and casual atmosphere. The open floorplan, with several chairs throughout, provides a sense of welcoming that is key to the businesses mission to serve patients from all walks of life. The clientele is as diverse as the neighborhood itself, ranging from various socio-economic strata, ages, and ailments.
Erika came to Accion in February 2015 looking to convert her private practice into the community practice of Life in Balance. In conjunction with a crowdfunding campaign, Erika was able to utilize a loan from Accion Chicago in order to avoid taking on
too much credit card debt. This loan allowed her to secure startup costs and help grow a new client base.
Currently, Erika is the only staff member, but with the steady week by week growth she has seen since starting the business she looks forward to eventually hiring an administrative assistant to help with scheduling and reception as well as bringing on another acupuncturist as her business continues to grow.
Life in Balance Community Acupuncture truly embraces the strong sense of community found throughout Chicago neighborhoods and is striving to bring an alternative to western medicine and healing practices to a wider range of people than was previously possible. The community acupuncture model is one that has created a huge change in the industry and can be seen as a source of inspiration for other businesses offering services that could benefit their larger community.
Lina and her family started ManiNuts Company two years ago out of popular demand for mani nuts, or sweet, dried fruits and nuts popular in her native Colombia. Back in Colombia, her family owned supermarkets and sold sweets that her grandmother and aunt would make. After moving to the US, her family decided to continue the family business in the food industry.
Lina dreams big, and it is her passion to be a businesswoman. Her work helps her support herself and her son. She wants to establish a company where she can help others to be providers for their family. This business has turned into a dream that she wants to continue.
Mani nuts are typical products in Latin American countries, and by selling it in the US, she is helping Latin Americans living in the US to remember and retain some of their own culture. Lina’s greatest success has been the positive reception of her products in her community. However, one of her greatest difficulties has been obtaining enough funds to acquire necessary products and equipment at wholesale prices—currently she is buying smaller quantities at higher prices per supply.
With a $5,000 loan from Accion, Lina is able to have the working capital she needs to be able to purchase in bulk. With the technical assistance provided by Accion’s staff, she’ll continue to build her credit.
Lina’s future goals are to expand distribution and production throughout the New England area and later expand throughout the nation. She wants to give job opportunities to people in need and help as many families as possible. She also wants to provide Latin Americans living in the US with an opportunity to experience a bit of their home country. Perhaps, later, she will expand her business to other countries. “Why not?” she says, “ManiNuts Global!”
XXX Coffee is a mobile coffee retailer and service provider based in New York with proprietary blends of espresso and coffee. It is owned and overseen by William, a man who knows both how to create wonderful coffee blends and how to serve them. He has over 20 years of experience in the coffee industry, and has served as a judge for both the World Barista Championship and the Specialty Coffee Association of America.
Almost as soon as he moved to the United States five years ago, he started this small business. William’s coffee company serves coffee and sells retail products online and via a bicycle cart at Socrates Sculpture Park. He also sells to retail locations throughout New York. William is planning to expand the services of his company.
Thanks to an Accion loan, he plans to produce a new coffee roast for resale. He will use the money to purchase green beans and other coffee production consumables, and to pay a roaster to roast the blend.
Henry Zunino, Strawberry Hill Confectionary in Boston, MA
After the economy went down in 2008, Henry Zunino was left unemployed. After making the difficult decision to abandon his career as a sculptor, Henry decided to start his own business.
Combining his knowledge of biology with his passion for artisanship, Henry hoped to produce a line of “edible sculptures” safe for children with food allergies and dietary restrictions.
Funding his business proved more difficult than Henry had anticipated. In order to manufacture and produce his candies, Henry needed expensive equipment that he could not afford. He began revolving credit to pay his bills, knowing that he needed to find a more reliable source of capital.
“When I went to apply for loans, no one gave me a dime – they thought, candy company, recession…”
Henry discovered Accion through the Sam Adams Brewing The American Dream program, which he had signed up for seeking publicity for his business. Accion granted Henry a loan, with which he was able to build the machinery essential to manufacturing his candies.
Today, Henry is the proud owner of Strawberry Hill Confectionery, a high-end candy manufacturing company that employs an average of eight people, depending on the season. He aspires to one day open flagship stores in Boston, New York, and Chicago.
Faced with dreams larger than his resources, Henry refused to capitulate. “I started out as a biologist, and I worked as a sculptor for eight years, and now I do a little bit of both. Everything that we make has a shape to it. I take pride in what I do.”
Ponce Conaway, Owner of PL Logistics in New Britain, CT
“My motivation is to serve people and be available to serve the needs of people to the best of my ability.” - Ponce Conaway
Ponce Conaway has long dreamed of becoming a successful entrepreneur. He began his career with a house cleaning business, having come from a family who cleaned homes for generations. When he started his own family a few years later, he decided to shift into a more stable work environment and began driving trucks with the goal of putting his two children through school. Throughout his career, Ponce never lost sight of his dream to become a successful entrepreneur. In 2006, his dream became reality when he established a new courier service business, PL Logistics, in New Britain, CT.
Ponce was inspired to start PL Logistics after noticing a lack of courier services in his area. He felt his background working in the service and trucking industries gave him the experience necessary to fill the need. Since that time, his business has grown steadily, acquiring six delivery trucks and hiring 10 part-time employees over the past nine years. PL Logistics is expected to see its strongest business growth yet in 2015.
In addition to running a successful business, Ponce takes pride in caring for his employees. He recently was able to buy back a property that had been in foreclosure and rent it to one of his employees who was looking for immediate housing for himself and his young daughter.
Despite his success, Ponce still faces many challenges as he seeks to grow his business, including increasing PL Logistics online presence in order to attract new customers. He sought out a loan to help him cover the cost of identifying and implementing an effective solution to the issue. He met with a commercial bank to discuss loan options, but was denied credit because his growing business was still showing losses. Thanks to a partnership between Accion and The Hartford through the Communities with HART program, Ponce received a $5,000 loan to begin marketing online as well as utilizing an online payroll system to streamline employee pay.
Through the Communities with HART program, The Hartford supports small business owners like Ponce who make a positive impact in their community. Through PL Logistics, Ponce makes an important contribution to the New Britain community, employing 10 people and providing local delivery services for critical personal items that include medical records and legal documents.
Ponce feels a strong connection to the New Britain community, living there since he was 12 years old and graduating from New Britain High School. His wife now works for New Britain public schools where their children also attended. “By being part of the school system and the community, you get to know and really feel a part of that community and want to make a difference,” Ponce said. Today, he is most proud of his ability to serve people and fill a need through PL Logistics. Ponce loves the independence that running his own business provides and as an entrepreneur, and he feels there is no limit to what he can achieve.
Eleonora Tatashadzee, Owner of Eleonora’s Homemaker Companion LLC in New Britain, CT
Eleonora Tatashadzee realized the great need that existed for homecare services in her community while she was working at St. Francis Hospital in Hartford, CT. She saw a lot of patients who could live independently but needed some help around the home as they were recovering. Many patients, for example, had to take taxis home after surgery because their relatives were working or did not live close by. To respond to this need, Eleonora created Eleonora’s Homemaker Companion LLC, which provides non-medical care to elderly or home-bound adults to encourage an independent lifestyle and promote health and happiness in the greater Hartford area. Her business provides a range of services such as grocery shopping, trips to the doctor, meal planning and preparation, light housekeeping, companionship, errands, and more.
Eleonora is a self-made woman, having arrived to the United States 10 years ago as a refugee from Russia with her husband and three small children. Eleonora faced many struggles adjusting to a new country with no connections and no English language skills. Despite these challenges, she set out to accomplish her business dream and build a better life for herself and her family.
Eleonora first worked providing homecare services informally, but she was barely making minimum wage, traveling many miles each day to see clients, and spending too much time away from her young family. During the early years of her venture, Eleonora did everything she could to learn the homecare business. She took English classes, enrolled in accounting courses at the local community college and began seeking financing options. After being turned down for loans from two commercial banks, Eleonora was approved for a loan with Accion.
Thanks to a partnership between Accion and The Hartford through its Communities with HART program, Eleonora received a loan to help get her business off the ground and pay for licensing and training for her employees, who are also her 18-year-old and 19-year-old daughters. Through the Communities with HART program, The Hartford supports small business owners like Eleonora who are having a positive impact in their community.
Eleonora feels a strong connection to her community and the clients she serves and takes great pride in the quality of care she provides. Her vision is to create an environment of support and a more independent lifestyle for her clients in the comfort of their own homes by carefully assessing and understanding their needs.
Beyond starting her own business while continuing to work full-time at the hospital, Eleonora sees her greatest accomplishments as recently purchasing a home and sending her two oldest daughters to college at nearby Trinity College in Hartford, CT and the University of Connecticut in Storrs, CT. Her future goal is to be able to grow her business so she is able to work on it full-time and help serve more clients in the greater Hartford area. One day, she hopes to see her name on a “Top 10 Women in Business” list!
Brian Shevlin, owner of Con Artist Collective. Con Artist Collective is a creative co-working space built to provide the resources, community and space for artists and freelancing creatives to thrive.
Fast Track participant Jeff Giedt, owner of Aventa Senior Care in Phoenix, AZ. Aventa Senior Care provides in-home care for seniors allowing them to remain independent and safe at home.
“I invented animal golf covers and have built the business from the ground up. It's been a tremendous journey of learning, growth, failure and successes. Growing Daphne's Headcovers has been one of the greatest joys of my life. I am now preparing to build the foundation for the next 20 years .” - Jane Spicer, owner of Daphne’s Headcovers, a golf cover company out of Phoenix, AZ.
