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Progreso Financiero Opens its First Standalone Financial Service Center in Redwood CityFinancial Service Center Reflects Growth of Innovative Financial Services Provider MOUNTAIN VIEW, CA (Sept. 16, 2009) -- Progreso Financiero, an innovative financial services company that helps Hispanics build credit, announced today it has opened its first standalone Financial Service Center in Redwood City, Ca. A grand opening and store ribbon cutting, featuring council members from Redwood City and North Fair Oaks and business and community leaders, will be held at 11 a.m. Sept. 19. "Redwood City is happy to welcome Progreso Financiero into our community," said Rosanne Foust, Mayor of Redwood City. "Access to fair and responsible credit is critical for our underserved community members to move up the financial ladder." Progreso started in 2005 in Northern California and now has 16 stores across the state that deliver fair credit and payment products to the financially underserved in the Hispanic community. Today, members of the Bay Area Hispanic community can visit the Redwood City Financial Service Center at 3141 Middlefield Rd. and apply for a personal loan that will help build and establish their credit history. "The opening of our first standalone Financial Service Center in Redwood City is another great demonstration of how much Progreso is growing and helping our customers establish and build credit," said James Gutierrez, CEO of Progreso Financiero. "We are excited to deepen our involvement in this community and assist Hispanics in moving up the financial ladder and achieving their lifelong aspirations for themselves and their families." Since its founding, Progreso has extended credit to more than 25,000 families in California, offering more than $20 million in loans. The company uses its proprietary scoring model to allow customers with little or no credit history to borrow at fair rates and pay back in small, fixed installments designed to fit their budgets. Customers enjoy a culturally relevant experience with in-language services and the ability to establish and build credit. Customers interested in learning more about Progreso Financiero's offerings can call 1-866-488-6090 or visit the Redwood City Financial Service Center between 11 a.m. and 7 p.m. Monday through Friday and 10 a.m. to 6 p.m. Saturday and Sunday. For more information, customers also can visit the website in Spanish or English at www.progressfin.com. About Progreso FinancieroProgreso Financiero is an innovative, socially responsible financial services company that helps Hispanics build credit, move up the financial ladder, and achieve their lifelong aspirations. Not having a credit record in the United States is like not having a face, not having an identity. At Progreso, we provide opportunity to the 23 million Hispanics in the United States who deserve access to mainstream financial services. We built our proprietary scoring system using hundreds of traditional and non-traditional data points to make fast, fair and responsible credit decisions that others can't make. We engage our customers where they are: In their neighborhoods, in their language, and with familiar faces from the community, to create a bond of trust. By investing in our customers' prosperity today, Progreso will revolutionize the financial services industry and transform millions of lives forever. For more information, visit: www.progressfin.com. |