Microloans Make a Macro Difference A Texas businesswoman fetched the amount she needed to open an eco-friendly pet store
Opinions expressed by Entrepreneur contributors are their own.
Lisa McGrath knew she didn't need much money to start her natural pet-products store, but the $3,000 she had doggedly saved just wasn't going to cut it. So in April 2011, the San Antonio-based entrepreneur applied for a microloan from Accion Texas, a nonprofit that provides qualifying startups with loans of $500 to $50,000.
By July, McGrath had dug up $12,000, courtesy of Accion's green loan fund for environmentally responsible businesses. In September, she left her job as a KLRN Public Television executive, and the following month she held the grand opening of her 965-square-foot store, Tails Natural Pet Market. We sat and spoke about the process.
The rest of this article is locked.
Join Entrepreneur+ today for access.
Already have an account? Sign In