Edward Todd, Today's Automotive, 2009 Minority Retail Firm of the Year
Mr. Todd had worked for Meineke as a manager of the Perrin-Beitel Store from 1993 to 2001, when he moved to a location at 1632 Pat Booker in Universal city to become General Manager of that store.
In 2008 Edward, an African American originally from San Antonio, saw an opportunity at the Pat Booker location. The owners of the location had put the store up for sale as they were moving on to other business ventures. Edward approached them about buying, but coming up with the down payment financing was big hurdle.
Edward then came across advertising from ACCION Texas.
Launched in San Antonio in 1994, ACCION Texas is a 501(c)(3) nonprofit loan fund whose mission is to provide loans to small business owners lacking access to commercial credit. ACCION Texas makes business loans that help micro entrepreneurs strengthen their businesses, stabilize their incomes, create additional employment, and contribute to the economic revitalization of their communities. Over 80% of borrowers are Hispanic or African-American and nearly half are women.
Edward was approved for a loan that let him make the down payment on the business. He closed on the sale and bought the business on March 3rd, 2008.
Business has steadily grown under Edward’s management. He has about 4 employees and does more than $500,000 in business annually. He is working now the San Antonio MBEC to get certified, start marketing to the government and start going after fleet contracts.
Edward then came across advertising from ACCION Texas.
Launched in San Antonio in 1994, ACCION Texas is a 501(c)(3) nonprofit loan fund whose mission is to provide loans to small business owners lacking access to commercial credit. ACCION Texas makes business loans that help micro entrepreneurs strengthen their businesses, stabilize their incomes, create additional employment, and contribute to the economic revitalization of their communities. Over 80% of borrowers are Hispanic or African-American and nearly half are women.
Edward was approved for a loan that let him make the down payment on the business. He closed on the sale and bought the business on March 3rd, 2008.
Business has steadily grown under Edward’s management. He has about 4 employees and does more than $500,000 in business annually. He is working now the San Antonio MBEC to get certified, start marketing to the government and start going after fleet contracts.