By Li Miao Lovett “I put the cart before the horse,” says Julie Baumhofer, owner of Bu Tong Acupuncture. In 2009, she signed a lease for an office in the
By a stroke of luck, Baumhofer looked out the window one day and saw the awning of the Mission Economic Development Agency, which shepherded her toward obtaining that loan. The nonprofit serves mostly the working class and immigrants in the community in becoming entrepreneurs and homeowners. She didn’t fit the profile of MEDA’s clients, many of whom speak Spanish, but with good credentials and a community-based model for her business, Baumhofer she had no trouble obtaining a microloan from Opportunity Fund.
“You don’t have to be born rich and know the right people, and you can be a business owner,” says Baumhofer. “Thank goodness for
