As a single mother, Olga Estrada dedicated her entire life to raising her son and daughter. She was born in Nicaragua and joined her family in the San Jose area of California more than 20 years ago to build a better life for her children.

As a single mother, Olga Estrada dedicated her entire life to raising her son and daughter. She was born in Nicaragua and joined her family in the San Jose area of California more than 20 years ago to build a better life for her children.Working for 17 years in a data entry position, Olga didn’t have a lot of money but she always made ends meet.

Hard times hit when Olga lost her job a few years ago, but she took the opportunity to advance herself. “I always lived my life for my children and I wanted to do something for myself,” she says. Through a state program called CalWORKs, she received assistance to support her family. She also learned about owning a business and gained computer skills.

“I got the idea of owning a daycare from my daughter’s teacher, but I didn’t have any money to get started.” Olga didn’t have a job or credit and knew she wouldn’t qualify for a loan from a bank.Then a friend told her about Opportunity Fund (http://www.opportunityfund.org), a Silicon Valley-based nonprofit financial institution that offers loans to low-income entrepreneurs who cannot receive loans from banks.The money was what she needed to buy toys, books, and other items for her business.

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.

Today Olga cares for two children, ages three and four, and she would like to take on three more children soon. She also has her eyes on owning a home in the coming years and furthering her childcare business by expanding to up to 10 or 20 children. Olga says, “I’m so proud of my daycare business and I’m thrilled to be independent again.”

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