Milvia Henriquez (pictured) received a $2K mini microloan to expand “Milvia’s Variedades”, her mobile retail store
The Central West Region BusinessSource Center (BSC) helped entrepreneur Milvia Henriquez secure a $2,000 mini microloan to grow her mobile retail shop, Milvia’s Variedades.

She started her business in 2018 after she was laid off from a job she had held for 19 years. Milvia realized this was her opportunity to start her own business venture.

Milvia created a shop targeting women too busy to head to the store, stocking her mobile retail shop with perfumes, handbags, lingerie, clothing, and lotion. Similar to other sole proprietors, Milvia used her own savings to finance her initial round of inventory.

When she was ready to grow her business, she received a referral to the Central West BSC. At the center, she met with a business support specialist who helped ensure Milvia was properly licensed and had the proper seller’s permit.

Milvia also met with a loan counselor who analyzed her business financials and helped her apply for a mini microloan to be used as working capital, which would allow Milvia to have a fixed monthly payment at a reasonable interest rate.

Milvia was approved for the microloan earlier this year. With this new injection of capital, Milvia was able to increase her inventory and improve the cash flow of her business.

EWDD’s BusinessSource and WorkSource Centers offer a variety of Business Services, including several Financial and Development Incentive Programs and a Small Business Loan Program. Learn how EWDD can help.

This story is part of the EWDD UPDATES from the week of April 22, 2019. Read this issue and more.