A Deal Made Possible!

In this issue:

• A Deal Made Possible

• Congratulations Nilima!

• Jump Start Your Business

• Mark your Calendars

• About SFV-FDC

The San Fernando Valley Financial Development Corporation (SFV-FDC) assisted in financing a $350,000 line of credit (LOC) to a partnership located in San Pedro. The LOC will be used for working capital and inventory.

The business is a retail cosmetic store owned and managed by a husband and wife team. They have over 20 years of experience in the industry. In the aftermath of the Los Angeles 1992 riots resulting from the television airing of Rodney King beating, the store was damaged and looted. The business received two SBA/FEMA loans and rebuilt.  In 2004, the owners opened a

second store, a few blocks from the existing store. Both stores sell hair care,

nail care and skin care products, hair accessories, wigs, cosmetics, etc. In addition, they also offer hair salon services and are located in strip malls with heavy foot traffic. The company has a stable financial position with strong sales trend and profitability, employing five full time employees and rent booths to a couple of self-employed hairdressers. Based on the nature of the business, this loan request would have been declined with one or more parameters in the Bank’s credit policy not being met. However, the Bank approached the SFV-FDC for a guarantee and with the Bank’s exposure minimized; the approval of the request now becomes possible.

The business received the LOC it needed to grow and the Bank kept its existing banking relationship. A win-win scenario!

Do you currently have a package that needs a State Guarantee to make your bank more comfortable? Then send it to us or call us at 818-834-9860 to determine if a state guarantee will help your client get the financing they need.

Congratulations Nilima for your nomination to “Women who Mean Business” Awards!

Nilima Kapoor, Manager San Fernando Valley Financial Development Corporation

Nilima Kapoor does not have to work for a non-profit agency like the VEDC. With an MBA from USC’s Marshall School of Business and career titles that include Investment Analyst for a multi-million dollar Bulgarian company, Nilima could take her pick of private sector jobs. In her six years at VEDC, Nilima has worked in six different management positions, making her the “go-to manager” of the agency; the one who succeeds in whatever project she is given.

As manager for the SBA Microloan Program, she succeeded in growing the portfolio to $2.2 million and Nilima had a big hand in VEDC’s successful management of the LACDB portfolio—reducing its delinquency rate by 50%. Nilima is currently serving as Program Manager for the San Fernando Valley Financial Development Program, VEDC’s State Loan Guarantee Program which currently boasts over $14 million in loan guarantees.

Whatever she does, Nilima does it with all of her heart. For the past twelve years she has worked as a volunteer on behalf of children through the Superior Court’s Dependency Court system. And, for four years Nilima has worked as a volunteer for VEDC’s Volunteer Income Tax Program. Not only just filing current tax returns, but working, on her own time, to help residents of the Valley to file years and years of back tax returns; enabling them to receive thousands of dollars in much needed refunds.

Nilima Kapoor not only is a shining example of a model non-profit manager, she walks her talk and gives back to the community in which she works.

Jump Start Your Business!

Mark your Calendars!

About SFV-FDC

Our mission is to provide an effective vehicle for guaranteed lending through the California Small Business Loan Guarantee Program to small businesses in the San Fernando Valley, North Los Angeles and Eastern Ventura Counties.

SFV-FDC: 12502 Van Nuys Blvd., Suite 119, Pacoima CA 91331

818.834.9860 tel      *      818.897.8007 fax      *      http://www.sfvfdc.org