Laredo is located on the border of Mexico and the United States. The southwest city is hailed as an ideal place to run a small company due to its booming economy. SmartBiz (r) was lucky to have two Laredo entrepreneurs who were ready to expand their businesses.
Maria Vargas, Victor Vargas’s wife, owns the family business. They specialize in bicycles of all ages and sell them both in wholesale and retail markets in Mexico and the United States. Maria Vargas was interviewed to find out more about her experiences and future plans.
Maria’s background in business has always been rooted in family.
She says: “My first business I started with my parents. We imported Guadalajara pottery to sell in the U.S. The business was successful but the value of the goods then decreased. Maria wanted to work for herself, so she obtained a bachelor’s in business. She then sought out a new venture.
She found a way for her to earn a living and continue working independently with her husband after 30 years. “I met a guy who introduced me into the bicycle business. My husband Victor and me decided to try it out when he was transporting bicycles across the U.S.Mexico border. Victor, a semi truck driver, handles all the transport and hauling. I handle the bike business in-store and online as well as business administration.” She says about working with her spouse, “If both of you are moving in the same directions with the same ideas, and want the exact same things, then it works.”
Maria works long hours, usually from 9 am to 6 pm. Maria says that she is tired after work, but loves her business. She reports that the majority of Laredo’s population is Hispanic. This works well for the cross-border business. “We always strive to provide the best products and services to our customers, no matter what.”
Maria thought that additional funds were needed for the holiday season of 2022, despite their success. She said, “I spoke to my bank prior to getting this latest loan and they requested too much documentation. SmartBiz helped me out a lot when I returned.
Vargas Imports Bikes has been a customer for many years. In 2020, the couple came to SmartBiz for two SBA loans. The couple is using an $88,000 SBA to hire an employee and increase inventory for the holidays.
SmartBiz Senior Account Manager Charmaine Steele was in close contact with Maria Vargas during the SBA application process. She said, “Maria Vargas is a pleasure to work with.” Maria Vargas was patient and kind from the start of the application process. “I’m thrilled that SmartBiz provided the affordable capital my business needed to continue making a difference.”
Maria and Victor have a great chance of success in an industry that is growing. The bicycle industry’s revenue is expected to reach $6,9 billion in 2021 with more than 17 million bikes being sold. Vargas Imports Bike is wished the best by SmartBiz.
