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SUMMER 2001 CLIENT PROFILES

Since 1989 the Loan Fund has supported small businesses and community-based organizations throughout New Mexico - all of which have provided benefits to lower income people. Here are a few of their stories.

Chipotle Grill, Farmington

Chipotle Grill is a restaurant recently opened by Frank and Silvia Magallan in Farmington, New Mexico. Mr. Magallan has built a reputation within the community for preparing tasty foods.

Loan proceeds were used to purchase restaurant equipment, furniture and fixtures, food inventory and operating capital to begin operations. In the process, the owners created five jobs for residents of this community.

Adobe Doors, Albuquerque

Max Turcios moved to Albuquerque from a small village in war-torn El Salvador in 1984 to fulfill a very simple dream: to have a better life. He received his first of four loans from the Loan Fund in 1993 to start Adobe Doors, a quality woodworking and cabinetry business.

These loans mean a lot to me, Max says. They have helped me improve the business a lot. The interest rate is good and the people at the Loan Fund are friendly. They really want to help me succeed.

Mr. Duoc Phat Le, Albuquerque

Mr. Le began his stone carving/jewelry business in Saigon in 1984 following his release from 8 years in a Communist re-education camp. The business grew to employ 25 people. He continued to be persecuted by Communist party authorities, and hounded for large donations.

He applied for political asylum and left Vietnam in 1995, leaving his business behind. He moved to Albuquerque in 1998, and applied for a loan from the Loan Fund to restart his business by working out of his home. He is again operating a successful business, supporting himself and his family.

New Mexico Jazz Workshop, Albuquerque

New Mexico Jazz Workshop is a nonprofit organization dedicated to the presentation of and education about jazz music. The Jazz Workshop has a loan with the Loan Fund, which helped meet its operating needs during a period of shortfall. As many as 30 low-income attendees of the jazz summer camps receive scholarships each year. The Jazz Workshop builds pride and self esteem in Hispanic and African American children. It also promotes local musicians, who are usually low-income, by paying them for performances and providing them with exposure to larger audiences.

Last modified: November 2007