Francisco Guerrero, owner of El Rey Restaurants in Clarksburg and Fairmont, came to America from Mexico in the mid 1980’s to have a better life for his family. He worked in the restaurant industry and decided he wanted to own his own restaurant in North-Central West Virginia.
Guerrero knew how the industry worked but had trouble securing financing to make his dream a reality. That quickly changed when a loan officer recommended he speak to Tim James, from First Microloan of West Virginia about an SBA microloan.
The U.S. Small Business Administration’s microloan program provides small loans, up to $50,000, to small business owners who may not qualify for traditional lending. The proceeds of a microloan can be used for working capital, or the purchase of furniture, fixtures, supplies, materials, and/or equipment. The program also provides training and technical assistance to micro-borrowers to help them successfully start or grow their business.
With the help of... Read More