|York Martinez received a loan from the Utah Assistive Technology Foundation to help land his first big construction contract. Four years later, his business is growing and employing others.|
Monday, May 15, 2017
Construction business grows, thanks to UATF
York Martinez had experience, a construction business plan and a large contract waiting—but he needed more equipment. He was a veteran with a disability, and he wasn’t having much luck getting a loan from a traditional lender.
He turned to the Utah Microenterprise Loan Fund and the Utah Assistive Technology Foundation, which work together to provide low-interest loans to entrepreneurs with disabilities. Martinez got the loan, bought the equipment, and landed his first long-term contract. “It made it very easy for me, especially when I was trying to start a business,” he said.
Small business loans from UMLF and UATF allow small business owners to apply for a loan and pay the prime interest rate, minus .25 percent. Loans run from $500 to $25,000, and there is no income limit to apply.
Today, more than four years after Martinez came to us, CastraCon LLC is still doing business, working with partners, employing three people full-time, and providing work to many others as construction projects become available. The business is solid and growing, Martinez said. Working with business partners allows them all to keep a pool of good construction workers employed.
For more information on small business loans through the Utah Assistive Technology Foundation, call 800-524-5-152 or visit their webpage.
Posted by JoLynne Lyon at 11:48 AM