By Juan Carlos Torres
Special for Peninsula 360 Press
Redwood City, California. Patricia Valdiosera opened her beauty salon in Redwood City 21 years ago. Like many other Hispanic small business owners in this city, Valdiosera had to spend all of her savings to cope with the financial hardships that 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 in turn has launched a loan program to help Latino and other ethnic minority businesses, in addition to providing financial counseling to these businesses.
Twenty-one years ago I bought the business from someone 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 that the pandemic has hit us all very hard," said Valdiosera. 2020 has been the most difficult year for me. The desire to work is there, but for a while I couldn't work and that generated important losses for me?
Patricia Valdiosera is the owner of a small beauty salon whose good reputation is known to much of the Hispanic community in Redwood City. 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 nation's net new jobs depend. Notably, several studies agree that the COVID-19 pandemic has disproportionately affected ethnic minorities, including 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 welfare of children and seniors depends on these businesses.
Comcast, in an open positioning for those who need it most in these times, will produce public service announcements (PSAs) to promote the fund and showcase the benefits of the loans. The PSAs will be aired on Comcast's media channels, in addition to Telemundo and NBC Bay Area, and on social media, thanks to the consulting of professionals in finance, digital infrastructure, e-commerce and internet presence.
Microbusinesses create jobs, drive innovation, and foster competition. They are the lifeblood of the American economy. While microbusiness owners are among the most agile, tenacious and resilient people around, 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 on them heavily. 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 have a rental debt for 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," Ortiz said. My fellow Mission merchants are going through something similar. We try very hard because we are working people, however, any support at this time would be greatly appreciated, it would be a God-given decision. With that we could pay the debt of the rent and electric energy?
Opportunity Fund has a proven track record of success helping microenterprises by providing high-impact microloans for more than 25 years," said Executive Director Luz Urrutia. ?our mission, boosting economic mobility, is part of the fight against systemic inequalities, including racism. We must do this work with the utmost speed, with unwavering commitment and ever-increasing courage, what we want to create is large-scale partnerships. Some 2.2 million (15%) of the nation's microbusinesses closed during the spring and summer due to COVID-19. Black businesses, 19% of Latinas and 21% of Asian American businesses, have closed, reflecting historical biases 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, but I, despite the fact that I have no savings, and I find it very hard because many of my customers are seniors who can't go out because of the pandemic, I remain firm and with the conviction that we will get through this," says Valsiosera with a smile.
For more information on minority-owned microenterprise support (Hispanic/Latino, African American, Native American) visit www.opportunityfund.org/get-a-loan/. More information is available in Spanish at 888-648-7859. English calls are received at 888-720-3215.
Comcast's 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 hardworking 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 microbusiness owners. For more information:
www.us.accion.org/accion-opportunity-fund
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with three principal businesses: Comcast Cable, NBCUniversal and Sky. Comcast Cable is one of the largest providers of video, high-speed Internet and telephone services to residential customers in the United States 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 a global operator of news, entertainment and sports cable 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.
