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Here's to a Prosperous New Year

The Chinese year 4711 began on February 10 and celebrations will continue for several weeks. The BCNA staff  has always loved this time of the year because of the excitement and the delicious Chinese treats we get to sample!

The New Year is a good time to reflect on lessons from the previous year,  so we want to particularly commend  our clients for "weathering" a year that brought both economic and natural challenges.

Clients like Xiu Zhen Chen, the owner of New White Swan Bakery — which New White Swan Bakeryspecializes in a variety of Chinese pastries and buns and a simple lunch menu — showed that the entrepreneurial spirit is thriving: with a loan of $35,000 from BCNA she was able to not only purchase new equipment, but create two new full-time jobs as well.

We also want to take the opportunity to thank the Community Development Financial Institutions Fund (CDFI) at the U.S. Department of Treasury for providing us with the funds to make this loan. To date, the CDFI Fund has provided us with 1 million dollars for our loan funds. This has enabled us to make loans to 82 entrepreneurs like Xiu Zhen Chen, who in turn have have created 60 new jobs in addition to the 174 jobs they had already created.

Xin Nian Kuai Le! Here’s to a happy, and prosperous new year!