We couldn’t have done it without YOU!
For over 20 years we have helped thousands of families, women entrepreneurs, immigrants and minority-owned businesses with the financial support they needed to succeed. Last month, we reached yet another milestone—thanks to our community of donors, supporters and the commitment of our incredible staff, we have now provided 10,000 loans to talented entrepreneurs like Jimmy.
Jimmy, owner of Iguanas Burritozilla, is the happy recipient of Opportunity Fund’s 10,000th loan. Last month, we helped Jimmy with the financing he needed to expand Iguanas Burritozilla to new locations, keeping up with his restaurant’s popularity and his commitment to the community.
Massive Burritos, Massive Popularity… But No Funding from Banks
Jimmy and his family started Iguanas Burritozilla in San Jose. Dedicated to using fresh, healthy ingredients, Iguanas Burritozilla serves up burritos, tacos, nachos, and more—not to mention their “Burritozilla,” a huge 5-pound, 18-inch burrito and namesake. To keep up with its popularity, Iguanas Burritozilla opened several new locations in the area.
“Owning a small business is all about the people: It gives us an opportunity to share our product and passion with customers,” said Jimmy.
Despite his restaurant’s popularity, Jimmy still struggled to get traditional financing for Iguanas Burritozilla: “We went to traditional banks, big and small. They didn’t understand our business model, and we kept getting shot down.”
Jimmy had given up and was ready to do it on his own, when he found Opportunity Fund. “We finally had someone who believed we could do it,” said Jimmy. “Opportunity Fund believed in us and took the time to understand us.”
Opportunity Fund’s 10,000th Loan: More Burritos, More Locations, More Jobs
Jimmy used his loan from Opportunity Fund (Opportunity Fund’s 10,000th loan!) to expand Iguanas Burritozilla to new locations: “The loan from Opportunity Fund helped us open our 6th location and we’re working on our 7th now.”
More locations mean more employees and more jobs. “This loan absolutely allowed us to hire more people,” Jimmy said. “We have about 15 people running each location, plus we have people on the corporate side as well.” As of now, Iguanas Burritozilla has about 80 employees, and that number is growing.
“The more we grow, the more impact we have in the community and on employment in the areas that we’re located.” Jimmy is very conscious about using his business to create jobs locally and to give back to the communities that it operates in. “We reserve a part of our budget for donations to local schools and causes,” he said.
Entrepreneurs, like Jimmy, form the backbone of our economy.
They produce a ripple effect in the community by creating new jobs, increasing their income and generating new economic activity.
Opportunity Fund is excited to share this major milestone with Iguanas Burritozilla, a business dedicated to creating jobs and supporting the community.
And Jimmy is excited too: “It feels great to be Opportunity Fund’s 10,000th loan! I’m glad we could be a part of this landmark.”
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