Jun132019

Meet Irma Fuentes, owner of ESI

Technology can be daunting, and the use of it to increase awareness for your business can be especially intimidating if you haven’t been exposed to it. Irma Fuentes, owner of ESI Hardware in Southwest Detroit, credits the training provided by a TechTown Professional Services Network (PSN) member as the reason why she’s been able to manage her fear of technology. When ESI Hardware opened in 2003, Mexican-American immigrants Irma and Edgar Fuentes relied on word of mouth to gain more customers for their business. After opening, however, they struggled to keep the store in business amidst many personal tribulations, including the death of Edgar and Irma’s battle with cancer. Irma found that social media would be a powerful tool to increase awareness and gain more clientele. Small businesses can have the best products, prices, location and customer service, but if the surrounding community isn’t aware, they must find additional avenues to gain recognition.

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Jun122019

How to identify the right Microloan for your business

Most people believe that when you apply for a microloan the “one fits all” concept will be the norm. With microlending, this is not true. Microlenders lend up to $50,000 with slightly higher interest rates than bank loans; however, they have a much more flexible underwriting criterion. Are microlenders lending in Detroit? Absolutely. They are providing access to much-needed capital for entrepreneurs throughout the city. Microlenders usually will lend to entrepreneurs if they don’t qualify for traditional small business loans, but what we are seeing in Detroit is that microlenders and traditional lenders are partnering on loan deals with entrepreneurs. Community lenders are filling in the lending gap between microlenders and traditional lenders (i.e. Detroit Development Fund, Invest Detroit and other similar lenders).

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May72019

Boutique Doubled Sales Since Opening Permanent Location

Voluptuous Bien’Aime Boutique specializes in apparel and accessories for every curvy woman, sizes 0 to 5X. Nicole Bien-Aime, CEO of the company, Retail Boot Camp graduate and lover of fashion, was labeled plus size when she began her journey. After routinely spending all day searching for the right outfit, Nicole realized her shopping experience felt more like a job than an experience, which encouraged her to launch a clothing business catering to curvy women in 2013.

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