Success Stories

The San Fernando Valley Financial Development Corporation (SFV-FDC) provided a guarantee for a $1,125,000 term loan to Pinacoteca Picture Props for long term working capital. Pinacoteca specializes in arts and décor rentals for film, television, commercials and theatre productions. Their inventory consists of period furniture and decorative items, dating back to mid 1900s. In addition, they also provide professional custom framing and also sell art supplies.

Pinacoteca Picture Props was established in 1997 and is jointly owned and managed by John and Tija Patrick, a husband and wife team. The couple together has over 20 years of industry experience. Their long-term relationship with various producers and set designers has helped grow Pinacoteca. Acquisition of smaller prop houses, including the customer lists, has enabled them to expand the business services and customers.

The company has a stable financial position with growing sales. However, due to the seasonality of the industry, their lender would only approve Pinacoteca’s financing request on one condition – SFV-FDC provide a loan guarantee. A California State Loan Guarantee through SFV-FDC minimizes the bank’s exposure and allows them to approve and otherwise questionable business loan.

Thanks to SFV-FDC and their loan guarantee program, Pinacoteca Picture Props received the funding they needed for long term working capital.

Pinacoteca Picture Props

The first SBA 504 loan funded by the San Fernando Valley Financial Development Corporation (SFV-FDC) was in conjunction with Bank of America to the Law Offices of Jessica Dominguez. As a result, Mrs. Dominguez was able to relocate her immigration law practice to a 6,000 square foot building in Studio City. Thanks to the loan, 10 existing jobs were retained and 3 additional jobs were created.

The SBA 504 Loan Program is designed to enable business owners to purchase a commercial building at below-market interest rates. The loan may also be used to purchase or remodel an existing building, construct a new facility or to purchase equipment that has an economic life of at least 10 years. The SBA 504 loan program is a long-term financing tool for economic development within a community. CDCs work with the SBA and private-sector lenders to provide financing to small businesses.

Alberto G. Alvarado, Los Angeles District Director for the U.S. SBA says, “We are proud to welcome SFV-FDC to our family of CDCs providing lending services to our local entrepreneurs. SBA applauds SFV-FDC for their expressed willingness to fund underserved businesses in the greater San Fernando Valley to ultimately create jobs and improve neighborhoods.”

The SFV-FDC, an affiliate program of the Valley Economic Development Center, also administers the State Loan Guarantee Program with the support of the California Business Transportation and Housing Agency. The California Loan Guarantee Program enables businesses to obtain term loans, lines of credit or letters of credit for which they could not otherwise qualify. The SFV-FDC is the only Certified Development Company in the Greater San Fernando Valley.

Jessica Dominguez