20 Years Driving Economic Mobility
Mitesh and Chetna

“My job helps me feel stable, hopeful, and like I am part of my community.”

—Mamta, Threads manager



Mitesh and Chetna's Story

From a tiny space in a Holiday Inn, Mitesh and Chetna took out a $100,000 loan to open Threads, their own salon in Dublin.

Word of Mouth

In 2005, Mitesh and his wife Chetna started a salon, “Threads”, in a tiny start-up space in a Holiday Inn. The business was successful, generating a small prot in 2006. But as word of mouth grew, they could not handle any new customers at their small location.

In 2007, when they found a bigger space across the street that had great freeway access, Mitesh and his wife were ready to make the move. But they needed $100,000 in capital to do the tenant improvements and purchase additional salon equipment. Despite their strong FICO scores, banks declined them because the business had only been open for two years.

Opportunity Fund approved a $100,000 loan in March 2007, which Mitesh and his wife paid off this past July. Today, Threads has served 20,000 customers, generates several million in revenue, and employs 26 people. One of those employees is Mamta, the manager of the salon. Mamta lived in a refugee camp in Nepal before moving to California.

Threads

Part of a Community

After working at Threads for three years, Mitesh paid for Mamta to attend nighttime English classes and promoted her to manager of the salon. Recently, Mamta and her husband were able to buy a home for themselves and their two daughters. “My job helps me feel that I am stable, hopeful, and like I am part of my community,” said Mamta about working at Threads salon.

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