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.

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