CLIENT SUCCESS AND TESTIMONIALS
BenjiLock, LLC
BenjiLock Overcomes Eaton Fire Disruption with PACE Support ($5,000 Small Business Emergency Relief Loan Program), Rebuilding Toward Innovation and Growth
The Eaton Fire caused significant and prolonged disruption to their operations. Due to mandatory evacuations, heavy winds, and hazardous ash conditions, Robbie and his family were forced to leave their home for an extended period. These challenges resulted in a nearly three-month interruption of business activity. Robbie reached out to PACE to seek support in obtaining funds for working capital and to cover essential operational expenses.
“The Eaton Fire caused a nearly three-month disruption to BenjiLock’s operations, forcing my family to evacuate and prioritize our children’s safety during a very difficult time. Thanks to Michelle Lee and PACE’s SBER (Small Business Emergency Relief) loan program, we’ve been able to begin stabilizing and rebuilding the business, allowing us to refocus on innovation and growth! This support has been critical in helping us move forward after such a challenging setback.” – Robbie Cabral
BenjiLock LLC. is a Los Angeles based company founded in 2014 by Robbie Cabral. BenjiLock has redefined personal security with its patented fingerprint hybrid technology. Featured on SharkTank, BenjiLock secured an investment from Kevin O’Leary and has since become a global brand. They are a five-time CES Innovation Award honoree and the company has earned over 50 prestigious awards, including the “Entrepreneurial Spirit” Award by the U.S. Hispanic Chamber of Commerce. BenjiLock is also recognized as one of “America’s Top Small Businesses” by the U.S. Chamber of Commerce.
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.
Ang’eliz Diamond
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.