Botas Juarez – ARIZONA
Andres and Hilda Peña continue to grow and expand their business of more than 35 years. With the help and expert guidance of Prestamos CDFI they’ve improved their accounting, launched a website, and feel confident entering a new chapter.
Opening a business and becoming an entrepreneur is a never-ending journey. From navigating new technology, adding new products and services, to expanding into new markets, there are always challenges to navigate and skills to acquire. The ability to grow and adapt is often what makes a business successful and stand out among competitors. This is something the team at Botas Juarez has learned time and time again over their more than 35 years in business.
Hilda and Andres Peña began their journey as entrepreneurs in 1989 when Andres underwent surgery that left him searching for work that was less physically demanding. He began importing boots and Mexican western wear at the Park & Swap in Central Phoenix. His wife, Hilda, had a background in buying and selling merchandise, and saw an exciting opportunity with this new business – to bring name brand Western wear to the Hispanic Market.
By 1991, Botas Juarez moved from the Park & Swap into their first brick and mortar location and began experiencing exponential success. Their business maintained steady, healthy growth over the next two decades, and soon they moved to a bigger store front and even opened an additional location. However, things changed quickly in 2020.
Not only was Botas Juarez affected by the COVID-19 pandemic, but they were also located within the construction zone for the Metro Phoenix Lightrail expansion project, both of which caused their business to close and experience significant decline in revenue. It was during this time of hardship that they first came to Prestamos CDFI.
Prestamos was able to assist Botas Juarez in obtaining some much-needed capital relief through two PPP loans totaling $20,500. These funds allowed Hilda and Andres to meet their payroll needs, pay past due rent, and cover operational expenses. They also took advantage of the many technical assistance services provided by Prestamos, such as business advising, bookkeeping and inventory management.
Of her experience with Prestamos, Hilda said:
“Without Prestamos, I would not have survived the pandemic. My business advisor, Noe, helped me develop many new ideas to grow my business, manage inventory, and return to a space where I had control of my business.”
Hilda also worked closely with Prestamos Business Advisor, Isa, to strengthen her bookkeeping and financial records. This support included maintains accurate payroll records and ensuring on-time payroll completion, reconciling bank accounts and credit cards, and establishing organized financial records and statements. As a result, Hilda now feels much more confident in her numbers and accounting, and is better equipped to make informed financial decisions moving forward.
Today, Hilda and the Botas Juarez team are continuing to work with Prestamos to grow and expand their business – their newest venture? An online store. With the help of Prestamos Business Advisor, Botas Juarez was able to launch their social media, take product photos, and build out their website.
The addition of an online store will help Botas Juarez continue to expand their revenue, and reach new audiences outside of those who shop their physical location. Their commitment to taking on new challenges and investing in their business is what makes businesses like Botas Juarez stand out, and with the help of Prestamos CDFI they are rising up to the occasion!
To shop Botas Juarez, visit their website at: https://botasjuarez.com
