The Best Thing Since Sliced Bread

With help from HOPE, Carlos Rene Otero Cruz is living the American dream.

Otero Cruz immigrated to America from Colombia and landed a job on the assembly line at Bimbo International, a company that produces bread and other baked goods for Walmart, Target, and large supermarkets.

When he saw the opportunity to purchase a Bimbo distribution route, Otero Cruz was eager to make the leap from employee to business owner. But when he turned to his bank for a loan to purchase a bread delivery truck, Otero Cruz was turned down due a lack of credit history.

Then the Hispanic Interest Coalition of Alabama recommended he apply for a loan through HOPE. HOPE used credit enhancement funds through the Wells Fargo Diverse Community Capital program to provide a cash security that closed the gap between Otero Cruz’ available collateral and what was needed to cover the loan.

Otero Cruz walked into HOPE as an assembly line worker and left HOPE as a small business owner. His next goal is to work with HOPE on a mortgage loan as he continues to build a successful life in America. 

“I never thought this would be possible. HOPE has helped me realize my dream of owning my own business in this beautiful country and given me the financial independence to provide for my loved ones,” Otero Cruz says.

“I hope to grow my business to the point that I can hire others in an immigration situation similar to mine and help them become autonomous,” Otero Cruz says. “HOPE is a collaborative financial institution that helps people progress in life.”