Meet Margarita
Margarita is a restaurant owner in Manhattan, NY who developed a passion for cooking from her mother. Margarita is a longtime Grameen America member, gradually increasing her loan sizes and expanding her business. Since she joined in 2016, Grameen America has invested over $100,000 in loan capital to support Margarita’s business.
With years of experience co-owning successful restaurants, Margarita finally opened her very own restaurant serving Mexican food. The most popular items on the menu are quesadillas because of their handmade tortillas.
“I’ve loved cooking since I was a child. My mother had her own food business and growing up, she would teach me how to cook.”
In 2016, Margarita’s friend invited her to join Grameen America. Margarita was drawn by the program’s low interest rates and ability to grow her business and savings over time. Margarita started with a first-time loan of $2,500 and eight years later, Margarita has increased her loan size to $15,250.
“I love the restaurant industry, being my own boss, and meeting new people through a love for food. My favorite part about having my own business is being able to provide jobs for people. This is so important to me.”
Over the years, Margarita has expanded her staff to include waiters and waitresses, kitchen staff, delivery people, and most recently, a bartender.
“Grameen America has made it easier for me to access larger and larger loans that I wouldn’t be able to find at other financial institutions.”
During the COVID-19 pandemic, Margarita quickly adjusted her business model to keep her restaurant running. Using loan capital from Grameen America, Margarita was able to build an outdoor dining structure and invest in new tables.
“I’m in the process of opening another location. I used my most recent loan to purchase a refrigerator for the new space.”
Margarita is using her savings to open a second restaurant location in The Bronx. Once it opens, Margarita will continue saving to open more locations in the future and possibly build a chain of restaurants.
