Something that characterizes most business owners is their ability to overcome obstacles, Gerardo Magdaleno owner of Hair J’s Barbershop & School is no exception, since 1997 when he started his barbershop, he has overcome the economic crisis of 2009-2010 and lately his business survived the pandemic.
However, his irregular immigration status in the United States has been the biggest obstacle he has had to overcome, according to his own words, he was limited by not being able to access several programs and government aid as well as access to capital, but 3 years ago everything changed because he was able to become legal immigrant in the United States.
Gerardo or “Jerry” like everyone calls him, believes that being up to date with his tax payments helped him legalize his immigration status in this country, as soon as the pandemic finished, he planned a strategy to grow his business by adding a barber school, for that reason he requested the support of Prestamos CDFI.
Magdaleno received a micro-loan to open his school, with the resources that he obtained he was able to close his lease and adapt the building for his school needs. Regarding the loan process, he said that at the beginning it was very slow, but he discovered that the first person who assisted him no longer worked at Prestamos CDFI, but when he contacted Teresa Miranda, things flowed very well, ensuring that it was easy and fast.
Gerardo Magdaleno feels very grateful, because he has had some problems and setbacks with his landlord and he said that Prestamos CDFI has been very supportive, helping him through emails and being aware. “I have been very happy with the services they have offered me, beyond the loan, with the resources they offer.”