Veronica: A Visionary Restaurateur
Veronica reached her dream of owning a restaurant after participating in a Lending Circle.
An immigrant from Mexico, Veronica came to Mission Asset Fund with a dream of owning a restaurant to serve her Mexico City favorites: gorditas, huitlacoche, huaraches, and pozole. With ingenuity and help from a local food entrepreneur incubator program, Veronica’s business grew from small time catering to a traveling food truck. She even won a developer’s contest for a new storefront space. But without a credit score, Veronica could not qualify for the business loans she needed to supply her new restaurant.
But without a credit score, Veronica could not qualify for the business loans she needed to supply her new restaurant.
After joining the Lending Circles program, Veronica was able to pay down her debt and invest in her business. After two years of financial classes and zero-interest credit-building loans, she raised her credit score to 615. This enabled her to qualify for new lines of credit from wholesale suppliers to further invest in her business. Now, Veronica has 20 employees working with her at her new restaurant in Marin County, El Huarache Loco. Please check out Veronica’s new restaurant to enjoy her delicious food!