CLIENT SUCCESS AND TESTIMONIALS
Tinsan, LLC: Rolylind Beauty Center
Minority-owned Business in San Gabriel Received $25,000 Working Capital Loan to Sustain the Business in Addition to a $1,300 Grant
Jason Luo, owner of Tinsan, LLC (formerly known as “Global Beauty Products Company”) is a long time Monterey Park resident. He started the business 24 years ago in 1999 to provide skin care and health products to hair and beauty salons. The company focus on private label cosmetic manufacturing (OEM/ODM). It has a manufacturing unit in El Monte and a wholesale distributor of its manufactured cosmetic and hair products outlet in San Gabriel.
The business grew over the years and he has many hair and beauty salons using his products. In early 2019, he started building an online network platform to expand his business nationwide and also selling direct to the general public. This new marketplace provides hair and beauty salons a free platform to market their business, schedule appointment, and selling their products. Tinsan LLC receives commissions for all products sold on the marketplace.
Unfortunately, due to COVID-19, all the hair and beauty salons were forced to shut down as they were not deemed essential businesses. All orders from the hair and beauty salons stopped. Overnight, Tinsan LLC revenues plummeted. The development of the online network platform was delayed due to lack of capital.
Jason came to PACE for help where he applied for $25,000 working capital Loan to purchase inventory and raw materials that could support the business operations and finalize the network platform. On January 2021, Jason was awarded a $25,000 disaster loan along with a $1,300 grant to help pay the first 3 months of loan’s principal. The loan helped in restarting the factory’s production and resuming the network platform development. Jason is grateful for the loans and grants that helped sustain the business. He is optimistic about the new network platform that will surely help to expand his market national wide.
PACE Finance Funded a $25,000 PACE EDA Disaster Loan to a Local Underserved Sole Proprietor
Mario Alamilla, a small business owner started his sole proprietorship business “Ang’eliz Diamond” in 1996 in Los Angeles to manufacture abrasive diamond grinding wheels for the tungsten carbide and ceramic industries. All of his business products are manufactured in the USA.
Mario successfully received a $25,000 PACE EDA disaster loan under the Small Business Loan Guarantee Program (SBLP) packaged as a partial re-finance on an existing loan balance. PACE Finance Loan Counselor Phuong (Bruce) Le first introduced Mario to the PACE EDA disaster loan and provided him adequate loan program information with instructions during the application process.
Thanks to Phuong’s assistance, it helps alleviate Mario’s financial pressure in his business. He gratefully exclaims that he now has first-hand knowledge in understanding the business loan process. Mario is continuing to work with PACE Finance and is receiving small business counseling for various current business challenges.
As a local non-profit Community Development Financial Institution, PACE Finance is currently offering low-interest and low-cost PACE Finance CDBG Loan and PACE Disaster Relief Loan programs that can help Los Angeles small businesses with access to capital and sustain their businesses during these critical times.