Using their savings and borrowing money from family, Bill and Maureen began the process of starting their own business. However, they soon ran out of capital and did not have enough to cover all the costs of opening. After unsuccessfully trying to acquire more funds from traditional lenders and the SBA, Bill remembered hearing that Accion was a good alternative for funding a small business.
“Accion’s staff made the loan process unexpectedly stress free,” shared Bill. “They put a friendly face to the loan process.”
In May 2010, Bill and Maureen took out a $35,000 Accion loan to open The Works, specializing in New York style pizza, burgers and wings. Bill works as the chef and runs the day-to-day operations, while Maureen takes care of the administrative and financial responsibilities. Their quick walk-up counter restaurant is a popular lunch spot for the many business parks in Mission Valley.
With their Accion loan, Bill and Maureen have successfully reached most of their original goals. They are proud of their steadily increasing annual sales, and have hired six employees, replaced outdated equipment, and expanded their business to offer catering services. They recently even acquired a beer and wine license and purchased a TV to cater to their growing dinner crowd.
As business continues to grow, Bill and Maureen hope to reward their loyal staff with bonuses and treat themselves with a much deserved trip back to New York to visit family.
5608 Mission Center Rd.
San Diego, CA 92108