I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
Local microlender get some national publicity
MSNBC looked at microlenders and the companies they loan to — including a local microlender and company.
ACCION New Mexico jumpstarted the local car and recreational vehicle detailing business Recapturing Vehicles with an $8,000 loan. The owner of Recapturing Vehicles, Jason Burns, had been turned down by five banks for a loan. Now, his company grosses $100,000 annually and Burns has two full-time employees.
Burns told MSNBC he now gives back to ACCION to help out.
“The money I give back to ACCION is actually growing and helping someone else,” Burns told MSNBC of the $50 a month he donates to the organization.
I know a little about this company — I worked for Recapturing Vehicles last year and can tell you that Burns works very hard. He not only built his business to what it is today, but did so while going to school for his MBA.
Not bad for someone not yet 25 years old who was turned down by five banks for a loan.
ACCION New Mexico is part of ACCION USA, which MSNBC says “has a larger loan fund, pays interest rates up to 2.5 percent, giving donors a return on their investment.”