Menu Call Email
Welcome to the Loan Fund
  • Home
  • What's New
  • FAQs
  • Donate Now
  • Contact Us
  • Monthly Newsletter
  • About The Loan Fund
    • Mission
    • History
    • Board of Directors
    • Staff
    • Financials & Impact Reports
    • Client Testimonials
    • Our Supporters & Partners
  • Business Loans
    • Our Lending Philosophy
    • Lending Guidelines
    • Small Business Loans
    • Microloans
      • SBA Microloans
    • SBA 504 Loans
    • Nonprofit Loans
    • CreativeFund
    • Apply for a Loan - Small Business
      • How to Apply for a Loan
      • Small Business Loan Application
    • Apply for a Loan - Nonprofit
      • Nonprofit Loan Application
      • Facility Purchase Loan
    • Make a Referral
  • Business Consulting
    • Business Consulting
    • Small Business Resources
    • Ask a Question
  • Our Clients
    • Success Stories
    • Client Photos
  • Support
    • Donate Now
    • Invest Creatively in New Mexico
    • Invest
    • Volunteer
  • ¿Habla Español?
Show Sub Navigation
  • What's New
  • In the Press
  • Financial & Impact Reports

   Support Dreams,                Create Jobs &               Build Communities                        

We are pleased to use PayPal® to  ensure  the security  of your  donation.

Subscribe to The Loan Fund Monthly!

Yes, I want to receive your monthly newsletter! Sign Up

Sustained Relationship Enables Auto Shop’s Success

07/07/2017
9:37 AM
 with 0 Comments
Aaron Perez isn’t sure how he heard about The Loan Fund, but he’s certainly glad he did. Twelve years ago, the Albuquerque entrepreneur needed about $16,000 for equipment and working capital for the auto shop he co-owns with his brother, Jordan Perez, but the two were having a hard time getting a bank loan because they didn’t have adequate collateral or a credit history that would help them qualify.

Jordan Perez, left, and Aaron Perez

Over the years, his company, Perez Collision Center, borrowed several times and took out lines of credit for $10,000 and $50,000 to finance growth. One of the larger loans was for $35,000 to update a frame rack, which is used to repair damage to the inner frame of a vehicle — “it’s a frame-straightening machine that pulls the frame of a car back into place like bubble gum,” said Aaron during a recent phone interview.

Having the funds to meet business needs helped the Perezes’ business pick up speed. It allowed the partners to buy inventory and the tools required to make the kinds of repairs their customers need.

Norma Valdez, director of lending at The Loan Fund, worked with the Perezes over the years. She has seen firsthand how the company has built a reputation for the quality and speed of its work, which has attracted business from fleet companies that require quick turnaround — 50 to 60 cars in a week, Aaron Perez estimated — and high standards.

Online reviews echo the praise, with customers applauding the company’s affordability and willingness to accommodate drop-ins.

The result has been tremendous growth in the past few years, enabling the Perezes to create 10 jobs in addition to their positions. Since receiving their first loan in 2005, the company’s sales have increased seventeenfold. Aaron Perez attributes that growth to “our persistence and doing our best to serve our customers — and to businesses that trust in our work ethics, such as the Loan Fund.”

“It has been great to know that there is someone out there that knows about falling down and getting back up,” he said about the Loan Fund. “We always stay humble and never give up, and for The Loan Fund to see that in us, we are truly grateful for the help and push we have received.”

The Loan Fund is a nonprofit community development financial institution (CDFI) that provides affordable loans, training, and business consulting to entrepreneurs, business owners, and nonprofit organizations throughout New Mexico. Founded in 1989, The Loan Fund has provided over $72 million in loans to help create or preserve more than 8,500 jobs statewide. For more information, call 505-243-3196.

back to list

Join the Discussion:
Name:
Email:
Comment:

  The Loan Fund provides:

 
√  Loans to small businesses, startup businesses, and nonprofits 
 

√  Business consulting services and capacity building technical assistance

 

    Please don't hesitate to contact us

        By phone: 505-243-3196

        Toll-free: 866-873-6746

        Visit us: 423 Iron Ave SW                                  Albuquerque, NM

    Business Loans:

    Our Lending Philosophy
    Microloans
    Small Business Loans
    Nonprofit Loans
     

    Get Involved:

    Donate Now
    Volunteer
    Invest with the Loan Fund
    Our Supporters & Partners

    News & Information:

    In The News

    Financials and Impact Reports

    Like Us On Facebook

    Subscribe to The Loan Fund Monthly Newsletter

     

    Frequent Q&A's:

    Small Business Loans
    Nonprofit Loans
    Business Consulting
    Giving to the Loan Fund

    Powered by Real Time Solutions - Website Design & Document Management
    Loading...