Determined Barber Stimulates Job growth In Washington Heights Through Microloan

Waldy moved from the Dominican Republic when he was 18, searching for the illustrious "American Dream." Acknowledging the challenges of being an immigrant entrepreneur, Waldy explained that he did not have the luxury of choosing his location when he moved to America. "You have to do what you can when you arrive. My trade was cutting hair and my family lived in New York, so this is where I came," said Waldy.

With determination and resilience, Waldy created his own barbershop, Royalty Barbershop, in Washington Heights but, similar to other immigrant entrepreneurs, a short credit history made it difficult for him to secure funding for his business. With the assistance of ACCION USA, Waldy was able to grow his credit score and receive an $8,000 loan that helped him purchase new spa equipment and provide a working space for 25 barbers in his community.