FUELING THE GROWTH OF FAMILY-OWNED SMALL BUSINESSES

La Mexicana Tortilla Factory
Hayward, Calif.

Situation:

La Mexicana Tortilla Factory is a family-owned business that suffered a great tragedy when the family patriarch was abducted from his Mexico home. As so often is the case with small family-owned businesses, the fate of the company can rest with one person. Because ownership of the factory was still partially in the missing patriarch’s name, his son —the current factory owner—was unable to secure a Small Business Administration loan to fund a new warehouse property for business expansion.

Solution:

The Bay Area Development Company and CRF stepped in to provide La Mexicana with a $210,000 New Markets Tax Credit loan with a low interest rate and 25-year term.

Benefits:

The loan—which was used to purchase a second facility—also enabled the company to create five new jobs and increase business in an underserved community.