The hardships brought on by the COVID-19 pandemic inspired one immigrant mother to take a bold leap into entrepreneurship to provide for her family.
“I had to be my own boss. I clung to the idea of opening my own business,” says Nayeli Bustamante, owner of Flor de Oaxaca, a shop in San Francisco’s Excelsior neighborhood that specializes in products from her native Oaxaca.
Nayeli launched Flor de Oaxaca in 2023 after years of working in restaurants and retail. The job insecurity and economic instability worsened by the pandemic became the tipping point for a vision she had been nurturing for over a decade—and preparing for all along.
“I started looking for guidance to begin the process, like how to make a business plan and obtain operating permits,” Nayeli explains. “You can have experience as an employee, but being an owner and managing a business is something completely different.”
In her search for support, Nayeli connected with the Business Development team at Fondo Adelante after being referred by the San Francisco Human Services Agency. She enrolled in courses on starting a business and using digital tools to improve operations and marketing. She also received hands-on technical assistance to help bring Flor de Oaxaca to life.
“Fondo Adelante prepared me to be a business owner—to go step by step, to structure it from the ground up,” Nayeli says.
The final hurdle was securing capital to open her doors. Before working with Fondo Adelante, Nayeli—like many Latino entrepreneurs—had fallen victim to predatory lending. But through the organization, she was able to refinance her loan and access working capital, significantly lowering her monthly expenses.
A major turning point came through the Racial Equity Lens (REL) Fund, a loan program created by Fondo Adelante and partner organizations to support minority entrepreneurs. Among REL borrowers, 100% are low income, 84% are Latino, 34% are ITIN holders, 60% are women, and 79% live in San Francisco.
Through REL, Nayeli obtained a financing option that was both accessible and aligned with her business goals—without the risk of falling back into predatory lending.
“I looked at different options, but with Fondo Adelante, the process was very accessible,” she says. “Once the requirements were met, it was simple—in addition to receiving crucial assistance in Spanish.”
In late April, Nayeli will celebrate Flor de Oaxaca’s first anniversary with a community party to thank her supporters and continue sharing Oaxacan culture with San Francisco through her business.