LOS ANGELES, Sept. 10, 2021 (GLOBE NEWSWIRE) — As small businesses reopen in an easing pandemic, a small business lender is providing independent trucking companies with a shot in the arm to help them succeed and keep the U.S. moving.
“Trucking companies are essential to getting our country back to normal,” says Eric Sarabia, co-founder and Chief Executive Officer of Acelera Financial Corp. (“Acelera”). Recently recognized by the U.S. Treasury Department as a community development financial institution serving underserved Latino and Black communities, Acelera offers small business loans of up to $250,000.
“Our mission is to promote community development and job creation by meeting the credit needs of small businesses owned and led by Latinx and African Americans located or operating in low-and moderate-income neighborhoods,” states Mr. Sarabia.
That commitment earned Acelera a federal government designation as a Community Development Financial Institution. “We are very proud of the CDFI certification from the U.S. Treasury Department,” says Mr. Sarabia. “We are a company committed to serving those that have traditionally been left out of the crucial debt markets. That certification is a recognition of the work we have done, and it has also proved essential during the COVID-19 pandemic.”
The company received the good news from the Treasury Department in the middle of the pandemic as Acelera, like many American businesses, struggled but managed to keep operating during the coronavirus crisis. “We are a company led by immigrant and minority entrepreneurs and professionals who come from the communities we serve,” Andres Rosillo, serial entrepreneur and co-founder of Acelera, says. “We understand the needs of underserved, hard-working entrepreneurs. We know how difficult it is to work during lockdowns; we also know what it takes to successfully reopen the doors to the American public.”
During the pandemic, the lender originated, pre-screened, or processed over $15 million of small business loans, often working with city and county governments to ensure small businesses get access to local, state and federal relief funds.
Now, Acelera wants to help Latino and African-American freight truck drivers become owner operators by providing the financing necessary to purchase their own trucks and start their own trucking businesses in an industry that has thrived during COVID and which is forecast to grow even more with the easing of pandemic protocols. “Truckers have kept America moving when she needs them the most,” states Melvin Rubio, co-founder of Acelera. “They will play even a bigger role in the recovery.”
While currently focused on the transportation industry, Acelera offers an array of loan products and services to diverse businesses. In addition to truck loans, the company provides businesses with loans for working capital, equipment purchases, and refinancing existing debt. The company also provides technical assistance to small business owners, including accounting and bookkeeping, profit optimization, and entity formation.
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