Bread is more than food to baker Pratt Morales. It’s a source of pride, inspiration and artistic expression that he is sharing with his baker son, Christopher. Pratt first came to Accion in 2004. He had run his business for years from the same cherished location without the need to borrow, but he needed extra financing to purchase the building housing his modest adobe bakery in one of Albuquerque’s oldest neighborhoods when the landlord decided to sell.

In 2013, Pratt and Chris received an invitation from the TV show, “Diners, Drive Ins and Dives” for their bakery to be featured in an upcoming episode about Thanksgiving dishes in New Mexico. The opportunity for national publicity was not to be missed, but Pratt and Chris had to close their bakery for three days while the episode was being filmed during one of their busiest times of the year. Because of the forgone revenue of three business days, Pratt and Chris found themselves challenged to fully meet their upcoming payroll. Pratt and Chris shared their worry with a member of Accion’s staff who was visiting the bakery and that staff member told them about Accion’s Presto loan program.  Presto loans – loans under $8,000 – provide entrepreneurs with quick access to capital.   Presto loan applicants receive a decision within hours of submitting their application and if the application is approved, funds are disbursed within 24 hours.

Pratt and Chris called the Accion office and applied for a Presto loan that same day. Their loan was approved for funding within hours and the following day Pratt cashed the check he received from Accion which allowed him and Chris to pay their employees in-full and on-time. A morning conversation of need turned within hours into a loan of support.