A dream served with purpose
With the help of a partnership between Everence and Greenline, José Luis Reynoso is transforming his lifelong dream into a thriving small business
José Luis Reynoso opened Alta Cocina in 2022 with a small business loan from Everence and Greenline Access Capital. (Photo by Kevin Gil, Everence)
As a teenager, José Luis Reynoso dreamt of opening a restaurant of his own.
“For me, all my life, that was an aspiration,” he said.
His dream became a reality in 2022 when he opened Alta Cocina – a Dominican-European fusion restaurant located in northeast Philadelphia.
José Luis Reynoso, Kersy Azocar, Stella Tai and Leonard Dow. (Photo by Kevin Gil, Everence)
Though Alta Cocina has found success in the community over the past few years, José Luis wanted to make a few changes to enhance the customer experience and atmosphere of the restaurant.
While his restaurant had been funded entirely out-of-pocket, Greenline Access Capital, an emerging Community Development Financial Institution, encouraged and helped José Luis apply for a small business loan with Everence.
And in January 2024, Alta Cocina became the first to receive a small business loan from the new community development investing partnership between Greenline and Everence.
Stella Tai (left) and Kersy Azocar (right) pose for a photo at an event celebrating the launch of the partnership between Everence and Greenline Access Capital in December 2023. (Photo Palaeli Studio)
The partnership, established in late 2023, works to provide small businesses with loans to qualified entrepreneurs in immigrant and historically disadvantaged communities. Everence Community Investments provides the capital, while Everence Federal Credit Union underwrites and administers the loan. Greenline helps the business apply for the loan and guides them through the qualification process.
The collaboration between Everence and Greenline was a no-brainer, said Kersy Azocar, Greenline President and CEO. Both organizations are aligned in their missions of serving the underbanked, helping disadvantaged populations achieve financial wealth and creating change in historically oppressed communities in Philadelphia.
“It takes a tribe to help small businesses,” Kersy said.
José Luis has seen an uptick in business since he received the loan from Everence and Greenline and invested it into making improvements on his restaurant. More customers are coming to dine in, and more takeout orders are being called in.
“The loan has helped a lot,” he said. “I’ve seen the results.”’