As we enter the new year, many of us are filled with excitement and hope for what's to come. It's a time to reflect on the past and set goals for the future. We are happy to share that we were able to close off 2023 on a positive note, setting the tone for 2024. We had the opportunity to fund a small business loan deal for Jose Manuel Saenz Luna, owner of M.S.L. Ferrier Services, this past month. M.S.L. Ferrier Services is a horse hauling business that was established five years ago, and since then has been galloping towards success.
Jose has come a long way in his entrepreneurship journey, paving his way in this industry over the last 10 years. Prior to starting his business, Jose worked in the horse hauling industry where he learned everything he needed to know to start M.S.L. Ferrier Services. After a few years, Jose decided to take a leap and create a company of his own with the knowledge and experience he had gained. Since starting M.S.L. Ferrier Services, Jose has been able to assist an abundance of individuals including equestrians, ranch owners, and anyone in need of transporting horses across southern and northern California. Although Jose’s business has been successful and continuously growing over the course of the 5 years, he decided its time for more. With his current truck and trailer, his capacity is limited, and with his constant flow of clients and referral opportunities he found himself to be in need of higher scale equipment. Jose then decided to pursue the route of acquiring a loan for the expansion of his business. Yet, after approaching many banks and direct lenders, he was continuously rejected.
Being a primarily Spanish speaking individual, there have been multiple hurdles that Jose has needed to overcome to get to where he is today. Although Jose has faced many challenges, he is determined to make a name for himself and his business in this world, despite language and cultural barriers.
When Jose ultimately came across our organization, he was pleased to hear that we prioritize assisting minority-owned businesses and were interested in pursuing his application with our direct lending partner, Altcap California. Together, our team and theirs committed to moving forward in the loan process and did everything in our power to assure he would see the day where he hears “loan approved”. From the first day, when Jose presented us with his situation and business goals, until the day we were able to fund, we stood by him each step of way assuring the process would run as smoothly as possible. Having a Spanish speaking representative working with Jose at every phase has also made this process much easier and more comfortable for him. This allowed for excellent communication between Jose and our team throughout the entirety of the loan process.
Finally, we were able to get his application approved and were able to move forward with closing his first loan. Although the small business loan process is not always a swift one, we ensured we were able to close the deal in a timely manner to allow Jose to purchase the equipment necessary to expand and assist his clientele. Jose was seeking $70,000 in financing to purchase an additional truck (2015 Ram 5500) along with a large horse trailer that has a capacity of transporting up to seven horses at once. After all of the “no’s” Jose heard in his pursuit of acquiring a loan, we finally reached the day we were able to say “YES!”. We funded the loan for M.S.L. Ferrier Services in December 2023, and this financing will grant him the opportunity to grow his client base and as a result, grow his business. In this new year, Jose plans on gaining more clients and expanding his services. With the help of So Cal CDC and Altcap California, we made this dream achievable for him. So, let's take a moment to celebrate the possibilities of the new year and the success stories that are waiting to be written. We are So Cal CDC, and we are here to deliver small business success.
The journey from Michoacán, Mexico through many cities leading them to Los Angeles, California the Zamorana Family finally made it. La Zamorana Candy Company produces and serves popular enjoyable original Mexican candy. It all started in the year 1957, Jose Mendez, founder of the company, left his family from Michoacán to chase after his dreams. In high hopes of finding work in the United States, Jose traveled to many cities and worked various jobs. When Jose reached Southern California he worked many labor jobs, but one specifically spoke out to him. He worked in a chocolate factory which gave him the inspiration to begin his own candy company. This was the beginning of “La Zamorana Candy Company”. Jose first put his idea to work by opening a kitchen in East Los Angeles and constantly relocated. Throughout the long process, the hard work finally paid off and Jose was able to be reunited with his family, as they moved from Mexico to the U.S. Finally, in the 1980’s the kitchen grew to transition into a factory and soon called East Olympic it’s home. For years after that, the family continued to advance products while holding the family’s traditions.
To this day, they continue growing and expanding their company, adding locations in Southern California area and throughout the United States. One location added to their expansion plan was put in place with the help of SoCal CDC. This industrial property is now located in Los Angeles, California, consisting of 10,173 square feet. Without the 504 loan program offered here at SoCal CDC, this new addition to the company would not be possible. This program allowed us to provide up to 90% financing, helping the family take their dreams even further.Although many struggles were faced, success isn’t achievable without the battle. This candy company took a lot to get to where it’s at, but with time and effort it was all possible. Thanks to this, the Zamorana family will mark their 50th anniversary serving friends and family.
High-end apparel company “Genexus” is still continuing down the road of success, not stopping at any cost. The successful company, still growing today, designs and creates clothing for all ages and genders. Genexus International, Inc. was established in the year 1995 by two brothers, Tso Kwong Yeung and Paul Shek Hau Yeung. Both attended Hong Kong University and made their way to the United States to achieve the dreams they aspired to and put their design skills to work. Brothers Tao and Shek always had a passion for fashion, consistently working in manufacturing companies and warehouses for apparel design until they decided to start up something of their own. The skills they obtained working in these apparel design companies gained them further knowledge and management experience, making them capable of starting their own family business. The brothers have been very successful with their company to this day, growing to become maybe a little bigger than expected. Genexus is currently located in a Torrance Warehouse, Newport Beach office. LA and NYC showroom. Although these locations have aided the success of the company, it has progressed immensely to the point of overgrowing each property. If they wanted to continue expanding, they knew they needed to purchase a new subject property to allow the company to be run more efficiently. How would they be able to do so?
With the help of SoCal CDC we were able to guide them in finding the perfect solution. We offer the 504 loan program, which grants us to assist these business owners by providing up to 90% financing for the purchase of a building to expand their company, with only a 10% injection. The 504 loan program serviced the acquisition of the industrial property now located in Gardena CA. This property consists of a 41,142 square foot two story industrial building/warehouse that is situated on 1.84 acres of fenced land. This loan program made the lives of Tao and Shek a lot easier! With the purchase of the subject property they will be able to bring all 4 locations together and allow the business to continue to grow under one roof and save on tons of expenses. SoCal CDC is always here to help business owners pursue their ambitions.
Present business owner, Thomas Dam, obtained a Master's Degree in finance from Cal State Long Beach University in the year 1990. In 1995, shortly after graduating, he purchased the existing struggling company “AA Laboratory Eggs” and paired up with his wife to run this business. AA Laboratory Eggs company specializes in producing fertile and embryonic duck eggs which are then sold for: incubation, biological research, vaccine manufacturing, egg food products, and egg shells for art and hobby decorating. Thomas Dan has his own personal farm where he maintains ducks which produce eggs for the company. Thomas and his wife were capable of completely turning the company around and making it profitable. Chi Le ,wife, holds many connections within the pharmaceutical industry, making her a very important asset for the current standing of the company. Although they were making a profit off of the company already, they grew to exceed their capacity in their current facility and decided they wanted to expand. They had visions and weren’t going to stop just yet. Due to the fact that they had 24 years of successful operation, they were approved for the 504 loan program. The purpose of the loan was for the acquisition of the commercial property located in San Bernardino, CA; containing a square footage of 2,603 feet. This opportunity pushed them in the right direction to reach prosperity and further growth with their business.