San Joaquin Delta College SBDC
Rey’s Window Tinting & Auto Security
“We appreciate all the help the SBDC gave us in completing our business plan and loan application which helped us obtain our loan to purchase our building.”
Getting turned down for a loan is disappointing, but the owners of Rey’s Window Tinting & Auto Security in Stockton didn’t give up hope to buy the building they were renting. Instead, they gave themselves a second chance by connecting with the SBDC who helped them prepare a better loan application and secure the money they needed.
Challenge
Since 2012, Rey’s Window Tinting & Auto Security located in Stockton has provided window tinting for automobiles and buildings, as well as vehicle lighting, audio and security systems, and vehicle wraps. Owners Rey and Sarah Almazan decided they wanted to purchase the building that they rented, but their efforts met defeat when their bank declined their application. Instead, they were referred to a local lender and the SBDC who would end up getting them a second chance.
Gameplan
The SBDC helped them to prepare a new loan application which entailed the creation of a more robust business plan, more accurate profit and loss projections, and other required details.
Results
Upon securing a $185,000 loan, Rey and Sarah were able to level up and purchase the building they had been renting where they are now building up equity and increasing the value of their business.
