The Life-Changing Power of Credit

 

When a formal bank couldn't lend to Elsa Garcia because she did not have a credit history, ACCION did. 

Elsa Garcia, native of Mexico, did not have established credit when she came to ACCION New York for business financing one year ago.  Her loan jumpstarted her business and her credit history, and Elsa has been working hard to ensure their steady growth ever since.  Working with ACCION New York’s Training, Resource, and Advising Center (OnTRAC), Elsa improved her recordkeeping, built her credit with responsible use of credit cards, and saw her credit slowly grow. 

Not only did Elsa receive a loan from ACCION, but also knowledge. “I learned so much about credit with ACCION’s help,” says Elsa. ”I even chose to write about credit as an essay topic for school.”  Elsa's story is proof that good credit management leads to a strong financial future—she has already qualified for a business credit card, as well as a car loan.  “I work on building good credit every day,” says Elsa.  “Because without it, I know I couldn’t fulfill my dreams.”  Elsa is currently going to school and saving money for her future projects.