Pedro Rivera's Story
An immigrant launches a successful carpentry business thanks to hard work and a loan from Progreso Financiero.
Pedro Rivera has been a client of Progreso Financiero since 2006 and is currently on his fifth loan.
Pedro launched his carpentry shop in the garage of his home as a side business while keeping his full-time carpentry job at another company. As time passed, Pedro began to see the possibility of operating his carpentry business full time, but he lacked the capital to make the transition. It was then he came across Progreso Financiero at his local Hispanic supermarket in San Jose, California. Pedro applied for a loan and was approved for $1,000.
Pedro used his loan to expand his carpentry business, buying necessary tools and materials. Since then, through hard work and determination and much-needed credit provided by Progreso, Pedro has seen his business grow, so much so he now operates his carpentry shop out of a 2,500 square feet space.
With this additional space, Pedro has been able to buy specialized machinery to make all types of furniture and meet his clients' needs. Nowadays, Pedro has a team of 3 people and $15,000 worth of equipment, including machinery, inventory, and trucks. His portfolio of clients includes restaurants, bars, private customers, and small businesses.
Pedro is a proud father of three and feels blessed for the success he has achieved and the support Progreso Financiero has given him.