Yolanda started her small business by selling Mexican food at a bustling construction site in downtown Austin.
After initial success, she soon realized she did not have the necessary capital to run the business efficiently.
“I was borrowing money from family and friends, but my weekly repayments were high. I was struggling and felt stressed by my financial situation. But I was determined.”
Before opening her business, Yolanda juggled three jobs. She worked on a farm as a laborer, as a babysitter and at a local restaurant. The working conditions were difficult, and her wages were low.
Since joining Grameen America, Yolanda now has the capital she needs to grow her business. With her most recent loan, Yolanda invested in inventory for her business. Today, she employs five part-time employees to meet the demand of her success.
Yolanda’s favorite part of owning her business is that she has more time to spend with her three kids. Each week, Yolanda saves money towards buying a food truck and a car for her business. Any additional income goes towards savings to buy a house.
“Grameen America has changed my life and has made me independent.”
Grameen America is a partner through FundATX, the Foundation’s impact investment strategy. In 2019, Grameen America served over 3,000 women, providing microloans, training and support to underrepresented entrepreneurs. That same year, FundATX’s assets reached 2.7 MM, which helps support more women like Yolanda.