Palma Customs & Auto Sales benefits from Microenterprise Loan Program
Palma Customs and Auto Sales, owned by Juan and Angela Palma, recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program. This marks SWIF’s 200th microloan since starting the program in 2001 with funding from the Small Business Administration. Juan has operated a used auto sales, parts, accessories, detailing and service business in Worthington since July 2006. Angela serves as the office manager and accountant for the business. The auto sales portion of the business has grown significantly since the business started, and SWIF’s loan will enable the business to increase their inventory of quality used cars.
Juan is able to communicate with customers in Spanish, which helps him to serve the Hispanic population in the area. He can be reached at 507‐376‐9181 or 507‐370‐3960.
“Juan has shown great progress in the growth of his business expansion,” said SWIF Program Officer Kurt Thompson. “Palma Customs has great potential for success and growth in its niche market.”
SWIF’s Microenterprise Loan Program offers loans of up to $35,000 for starting or expanding for‐profit small businesses located within the 18 counties of southwest Minnesota. This program also now serves Wright, Carver and southern Stearns counties.
In addition to financing, SWIF provides free technical assistance to all clients who have received a loan through the Microenterprise Program for the life of the loan. SWIF staff and business consultants provide one‐to‐one business planning, accounting, marketing and other training opportunities that will help entrepreneurs succeed in their venture. SWIF’s Microenterprise Loan Program receives funding assistance from the U.S. Small Business Administration and U.S. Department of Agriculture.