ACDC Celebrates the Closing of a $15,000 loan between Cindy's Planet and the Urban Initiative Fund

The Asian Community Development Corporation (ACDC) recently closed a $15,000 loan for Cindy's Planet at 70 Tyler Street, with the Urban Initiative Fund (UIF). ACDC worked with Cindy's for over 5 months and completed a business plan which included strategies for expansion and hiring of workers. "The capital will allow us to upgrade the cash register and food ordering system, purchase computer equipment to enable in-house creation of marketing material, and to upgrade our air conditioning system", says Cindy Yan, whose small restaurant on the residential street in Chinatown bears her name. Allan Yan, Cindy's husband, works the wok and deals with the day to day business. "It's important for UIF to invest in inner city neighborhoods such as Chinatown. We are particularly pleased that the expanded business would create at least one new job in the neighborhood", says Robert Jenkins, Fund Manager for UIF, a minority loan and grant fund established by the Legislative Black Caucus of Massachusetts. "We would like to help more business grow in Chinatown. Through UIF and the Community Business Network, we have access to loan capital from $1,000 to $250,000", says Douglas Ling, Director of Economic Development for ACDC.

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