ACCION New Mexico's clients run a large gamut from the home-based seamstress to companies that have been around for 20 years or more, said Leslie Hoffman, the nonprofit's vice president of lending.
The lender's clients include a shopping cart repair business and a Denver-based rubber duck gift shop. No matter who they are, the company gets personal calls and site visits from a supportive loan officer, said Hoffman.
In 2008, the organization disbursed 196 loans.
Now it serves 730 businesses with a total of $6 million in outstanding loans. It does loans as big $300,000 and wants to do more do more that are large like that.
Los Angeles is just one of 10 most affordable cities for doing business, according to a study by PricewaterhouseCoopers and the Partnership for New York City. More
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