Meet Ángel Rojas, who used a business loan from Camino Financial to buy new equipment, get the required certifications and thus being able to get supplier contracts. His detail service business is thriving.
Like many Latinos in the U.S., Ángel started small. He used to work tirelessly at a car wash from 8 am to 10 pm, but his salary was not enough. His family has always been his priority, and therefore he wanted to have something of his own. This not only would generate more income for his family, but also create a legacy for years to come. The journey wasn’t easy, but with grit, persistence, and effort, Ángel founded his first business: Magic Touch Car Detail Service -a small business in Long Beach, CA, offering detailed vehicle cleaning services.
The problems in Ángel’s Business
Many people don’t realize that the industry of auto repair and maintenance is not a walk in the park. It can be hazardous and also put a strain in the business finances. Some of the most common problems are accidents in the workplace as well as cash shortage. Ángel realized that with the right financing he would be able to pay for the necessary training to reduce accidents. More funds would also allow him to buy the proper equipment to increase productivity. The training and the new machinery, combined, would allow him to improve his service, attract more customers, and be better positioned to get supplier contracts or vendor agreements -the kind of ongoing contract with a larger company that can provide a constant flow of work and sustainability.
Magic Touch Car Detail Service focused from the get-go on customer satisfaction, fair prices and excellent service. The proper funds would allow Ángel to provide just that without risking his finances.
The whole idea made sense, but where could he get those funds? How could he make it?
The loan that transformed Ángel’s business
Ángel approached Camino Financial and applied for a business loan. This was his first time taking a loan. In such a competitive market, why did he opt for Camino?
He paid special attention to the reviews on social media. They speak for themselves. After all, Camino Financial has helped hundreds of Latino entrepreneurs finance their businesses. In his own words, “the comments from other Latino business owners like me on Facebook caught my attention. That encouraged me to seek more information and finally to apply for the loan.” Ángel immediately felt comfortable knowing that we speak his language: our business loan specialists are bilingual, and we are familiar with the challenges small business owners face.
The whole loan process was simple, fast and personalized to meet Ángel’s needs and goals. Ángel received the funds in just one week. At Camino Financial we make sure to find the financing option that best suits your business and we guide you throughout the entire loan process.
Ángel took a $4.000 loan. He invested half the money in training (enrolling in different courses related to his field) and getting the proper certifications, and the other half in a generator and a compressor. Both pieces of equipment allowed him to accept more jobs, work faster, and earn more profits. Since he took the loan, Ángel has increased his production capacity a 25%.
This instant growth was not the only benefit: now Ángel has a more positive outlook for the future. Magic Touch Car Detail Service has grown considerably since receiving the loan, but Ángel doesn’t have plans to stop here. He wants to hire more employees in the near future. In addition, he wants to continue expanding his education and to offer more services, such as vehicle paint services. He is sure he’ll be able to close more contracts as time goes on.
Here you can read more success stories of business owners like you who solved their problems and made their companies grow with a loan from Camino Financial.
If you, like Ángel, are ready to grow your business, take today the first step and apply for a business loan with Camino Financial.