Stay Informed!

Becoming Her Own Boss, Building a Better Life for Her Children

As a single mother, Olga Estrada dedicated her entire life to raising her daughter and son. She left Nicaragua and moved to northern California in the hopes of offering them a better life than she had.

She landed a data entry job, allowing her to make ends meet, but wasn’t able to afford much else. After 17 years, she lost her job. Despite her financial issues, she used this as an opportunity to advance herself.

“I always lived my life for my children and I wanted to do something for myself,” she said.

Through the state program, CalWORKs, she received financial assistance while simultaneously learning about entrepreneurship and gaining computer skills. She was shortly going to put her new knowledge to use.

“I got the idea of owning a daycare from my daughter’s teacher, but I didn’t have any money to get started,” she said.

With no job and no credit, Olga knew she wouldn’t qualify for a bank loan. Then a friend told her about Opportunity Fund, a Silicon Valley-based nonprofit that offers loans to low-income entrepreneurs. She was now able to buy toys, books and all of the other goods that she needed to get her daycare up and running.

CFED has worked with the Opportunity Fund and other nonprofit lenders to develop products to boost small business owners like Olga. CFED encourages lenders to try out new approaches, helps to evaluate what works, and shares the results so that others can offer those products to their low-income customers.

Since losing her job, Olga has become her own boss and created a future for herself – all thanks to the training and funding she received from the state program and nonprofit organization.

“I’m so proud of my daycare business and I’m thrilled to be independent again.”