California CDFI Helps Build Community Coffee Hub
Client: Tallio’s Coffee & Tea
Client Location: San Francisco, CA
CDFI: Working Solutions CDFI and ICA Fund
CDFI Service Area: California
Small business financing and consulting
Olton Rensch, a longtime resident of San Francisco’s Bayview area, initially began selling high-quality coffee and ginger brew online and through local pop-ups. With a mission committed to creating employment opportunities in his neighborhood, Rensch eventually opened the storefront location Tallio’s Coffee in Bayview in the spring of 2021. However, pandemic-related challenges and permit issues forced a temporary closure.
Working Solutions Provides Business Consulting and Funding
Through the San Francisco District 10 Small Business Revolving Loan Fund — created by Working Solutions in partnership with local community leaders — Rensch received the capital, consulting, and capacity-building needed to reopen in fall 2022. Further assistance from Working Solutions in partnership with the City of San Francisco, including a stabilization grant and personalized consulting, helped Rensch refine his operations, improve margins, and boost marketing. Today, Tallio’s Coffee stands as a thriving community hub and a model of resilience and local entrepreneurship in Bayview.
Tallio’s also received funding from OFN member ICA Fund to support the business.
CDFIs Create New Jobs and Grow Small Businesses
Small businesses are the backbone of our nation’s economy. Securing financing, however, can present challenges and roadblocks to many entrepreneurs, specifically entrepreneurs of color. Without the experience, cash flow, credit, or equity, many get denied by traditional banks and financial institutions. This issue often leaves small business owners at the mercy of predatory lenders and high-cost financing.
CDFIs fill the gap to provide safe, responsible options for borrowers that traditional banks do not reach. In addition, they also offer technical assistance and professional development tools to help small businesses grow and succeed. In 2021, certified CDFIs had more than $25 billion small business and microloans in their portfolios.
To learn more about how OFN and our network of CDFIs prioritize small businesses, visit our small business page.
To read other stories about thriving small businesses funded by CDFIs, visit our impact stories page.
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Your client success stories illustrate what it means to deliver opportunity for all. They help OFN demonstrate how CDFIs work to help create good family-wage jobs, decent affordable homes, healthy foods, greener neighborhoods, and so much more.
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