Innovative Entrepreneur Obtains Commercial Loan

Challenges

Le had no prior experience securing a commercial loan. Le believed that the commercial loan process was too complicated to undertake on his own; therefore, he began searching for solutions. In addition, Le could not open his business office until the space was in accordance with city regulations. Finally, once Le’s business could open, he needed a marketing plan to earn clients.

Best Advice

Le met in person with Salvatrice Cummo, Business Advisor and Director of the SBDC hosted by Pasadena City College, to receive one-on-one advising on the process of how to obtain a commercial loan, the process of filing required building permits, and on how marketing can grow his business.

Client Impact

Since Le began working with the SBDC, he has turned a small program into a thriving business with new and repeat clients. “A lot of parents come back to me. My program is unique because I practice child-centered learning. I emphasize the emotional needs of the child,” explained Le.

“The SBDC is my mentor and business partner…Their advice is essential to me and my business. They are like an elder sibling who gave me advice when I needed it.”-Michael Le, Director Mindquest Learning

SOURCE: https://smallbizla.org/stories/innovative-entrepreneur-obtains-commercial-loan/