By Juan Carlos Torres
Special for Peninsula 360 Press
Redwood City, California. Patricia Valdiosera opened her salon in Redwood City 21 years ago. Like many other small Hispanic businesses in this city, Valdiosera had to spend all of her savings to cope with the great financial hardship the COVID-19 has left in the community.
In order to support local businesses affected by the pandemic, such as Valsiosera, Comcast California donated $350,000 to the Opportunity Fund, which has launched a loan program to help Latino and other ethnic minority businesses, as well as provide financial assistance to these businesses.
"Twenty-one years ago I bought the business from one person but he had no customers, so I started from scratch, as they say, and thank God I have been able to survive well, until now when the pandemic has hit us all very hard," Valdiosera said. "2020 has been the most difficult year for me. The desire to work is there, but for a while we couldn't work and that generated important losses".
Patricia Valdiosera owns a small beauty salon whose reputation is well known to much of Redwood City's Hispanic community. Her business is located at 801 Woodside Road. No. 7. Redwood City , 94061
According to the Small Business Administration, 44% of all productive activity in the United States is created by small businesses, such as Valdiosera's, on which two-thirds of the net new jobs in the country depend. It is worth noting that several studies agree that the COVID-19 pandemic has disproportionately affected ethnic minorities, which include Hispanics.
For Valdiosera, the announcement of the support that Comcast and Opportunity Fund will give to local businesses is of vital importance, "because many families live from these businesses, we pay rent, food and, most importantly, the well-being of children and seniors depends on these businesses.
Comcast, in an open positioning for those who need it most these days, will produce public service announcements (PSAs) to promote the fund and showcase the benefits of loans. The PSAs will be broadcast on Comcast's communication channels, in addition to Telemundo and NBC Bay Area, and on social networks, thanks to the consultancy of professionals in finance, digital infrastructure, e-commerce and internet presence.
"Micro-enterprises create jobs, drive innovation and promote competition. They are the lifeblood of the American economy. Although microbusiness owners are among the most agile, tenacious and resilient people in existence, their businesses, their livelihoods, have been challenged by the COVID-19 pandemic in unimaginable and unprecedented ways," said John Gauder, senior vice president of Comcast California. "We have come to rely heavily on them. Now, when times are tough, we want them to know that they can rely on us to get them through this crisis.
"In my case, I was generated a debt for the rent of the property where my business is located, at 2770 Mission St. A loan would save us in many ways, especially because three families depend on this business," said Ortiz. "My fellow Mission merchants are going through something similar. We work hard because we are working people, however, any support at this time would be greatly appreciated, it would be a dedication from God. With that we could pay off the debt of the rent and electricity.
"Opportunity Fund has a proven track record of success, helping microenterprises by providing high-impact microloans for over 25 years," said Executive Director Luz Urrutia. "Our mission, to promote economic mobility, is part of the fight against systemic inequalities, including racism. We must do this work as quickly as possible, with an unwavering commitment and increasing courage, what we want to create is large-scale partnerships. Some 2.2 million (15%) micro-enterprises in the country closed down during the spring and summer due to COVID-19. Black businesses, the 19% of Latinas and the 21% of Asian Americans, have closed, reflecting historical prejudices in the financial system that have left minority-owned businesses undercapitalized and under-resourced. We are deeply grateful to Comcast for supporting our efforts in California.
"I know that many businesses have closed down but I, despite the fact that I ran out of savings, and I find them very hard because many of my clientele are older adults who cannot be getting out because of the pandemic, I stand firm and with the conviction that we will get ahead," says Valsiosera with a smile.
Para obtener más información sobre los apoyos a microempresas propiedad de minorías (hispanos /latinos, afroamericanos, indígenas) se puede visitar la página www.opportunityfund.org/get-a-loan/ Más información en español al 888-648-7859. Llamadas en inglés se reciben en el 888-720-3215.
The Comcast website offers more information about the company: california.comcast.com
Opportunity Fund is the nation's leading microenterprise lender, based on the idea that small loans help hard-working entrepreneurs make lasting changes in their own lives and build stronger communities by growing businesses and creating jobs. The Opportunity Fund's community of donors and investors is creating an inclusive financial system that empowers women, immigrants and minority microenterprise owners. For more information:
www.us.accion.org/accion-opportunity-fund
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with three core businesses: Comcast Cable, NBCUniversal and Sky. Comcast Cable is one of America's largest providers of video, high-speed Internet and telephone services to residential customers under the Xfinity brand, and also provides these services to businesses. It also provides wireless and security and automation services to residential customers under the Xfinity brand. NBCUniversal is global, operating cable news, entertainment and sports networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures and Universal Parks and Resorts.
Visit www.comcastcorporation.com for more information.
