President Obama’s 2009 Recovery Act includes $30 million for expanding the Small Business Administration’s Microloan program. These loans of less than $35,000 put money into the hands of small business owners who don’t have any collateral, but who stimulate the economy by putting money back into their communities.
Entrepreneur, Paula Tejeda could benefit from one of these microloans. She says a lack of working capital is the biggest challenge to running her small storefront where she sells Chilean empanadas.
These pocket-sized meat pastries are a popular to-go food in Chile and Paula says they’re best eaten with a glass of wine. This story shows you how that combination sparked an idea in Paula to take the empanadas out of her store and over to the local bars to stir up some business.
