Mid-City Region BusinessSource loan counselor Phong Le (left) helped entrepreneur Sam Rypinski (right) obtain a $125,000 SBA loan to expand Riverside Studios, LLC
The Mid-City Region BusinessSource Center recently helped longtime client Sam Rypinski obtain a $125,000 Small Business Administration (SBA) Community Advantage loan to expand Riverside Studios, LLC.

The studio has been providing services to the needs of artists, film, and photo professionals since 2014. Sam previously worked with the Mid-City BSC for assistance with a start-up loan to launch Everybody Los Angeles, a fitness center that primarily serves the LGBT community by providing them a safe place to strengthen and heal.

Sam has worked with Mid-City BusinessSource Center (BSC) loan counselor Phuong Le, and was familiar and pleased with the BSC services.

In March 2019, Sam met with Phong, who guided Sam through the entire small business loan process, including a review of his business and analysis of the business’ financials. More importantly, Phuong helped present Sam’s loan application to the loan committee for approval.

The loan was approved in May and Sam picked up the loan check on June 26, 2019. With this infusion of capital, Sam will be able to create two full-time jobs and expand his business by buying out a tenant’s space.

Sam's long-term plan is to purchase the entire commercial building so he can better serve the creative community as well as the LGBT community.

EWDD’s BusinessSource and WorkSource Centers offer a variety of Business Services, including several Financial and Development Incentive Programs and a Small Business Loan Program. Learn how EWDD can help.

This story is part of the EWDD UPDATES from the week of July 15, 2019. Read this issue and more.