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By Borrower Stories, Wisdom

Yahaira Caraballo – Nail Glam Studio – Sisters Find Success in the South Bronx

Yahaira and her sister Onaney

Perseverance Breeds Success

It’s October 1st, 2013, opening day for Nail Glam Studio and Yahaira Caraballo is nervous. After months of grueling effort, her south Bronx-based nail salon is finally ready and open to the public.

The only problem? The public didn’t come. Not on the first day, at least.

Like everything that brought her to this point, however, Yahaira’s persistence soon paid off. Although Nail Glam Studio, in her own words “didn’t make a dime the first day,” it did manage to turn a profit by the end of the first week and has only grown since.

Nail Glam Studio Founder, Yahaira Caraballo

While Yahaira’s determination enabled her to push past a number of obstacles, it took the help of many other hands to effectively turn Nail Glam Studios from a vision in her head into a thriving business.

One primary source assistance came from CNote’s CDFI partner, the Pursuit Lending, which provided essential guidance in the early stages of forming the business, along with the funds to make the necessary upgrades to comply with new regulations and to expand operations.

The other essential ingredient in Yahaira’s small business success story is family. From her brother helping to build and repair the shop to her husband providing the painting expertise, she was not short on support from those closest to her.

Yahaira did not just receive help from family, however, but was able to provide something even more important to her sister, Onaney Caraballo. In fact, one could say that Onaney was the driving force behind the idea to open Nail Glam Studios all along.

The Origins of Nail Glam Studio

Yahaira was sure that she wanted to start a business since she was young but just couldn’t find a place where she could make an impact. Despite taking on a full-time job in New York City, she still never lost her entrepreneurial ambition and continued to look for ideas and ways that she could turn her dream into reality. In the end, her sister provided the inspiration to finally take the steps towards forming a small business of her own.

Nail Glam Studio Team

Following a move to New York City from their native Dominican Republic in 2003, Onaney quickly established herself as a stylist, gaining recognition at local nail salons and practicing on Yahaira in her spare time. Seeing her sister’s talent and looking to finally realize her own dream to be a small business owner, Yahaira cleared her savings account and began to take the steps necessary to open Nail Glam Studios.

Nail Glam Studios soon become more than just a business for the two sisters. In fact, it became a way for both to live out their respective dreams and come together in a way they never previously imagined. Where Yahaira could fulfill her ambition of owning and operating a small business, Onaney could finally have the kind of stable and supportive working environment that enabled her to focus on improving her craft without worrying about working hours or other issues that usually come with freelance and studio work.

The idea was in place. Now Yahaira just needed funding to get Nail Glam Studios off the ground.

Getting a Loan

Yahaira first sought to get a personal loan from Chase Bank. Such loans come attached with high interest rates on repayment, but Yahaira was dedicated to seeing the idea of opening a nail salon for her sister through to completion. While she was refused for the loan on the grounds because that local branch did not invest in small businesses of Nail Glam’s size, she was given referrals that culminated with her collaboration with Pursuit.

Pursuit helped connect Yahaira with the right experts, who were able to walk her through the intricacies of operating a small business. For example, they taught her how to complete the required paperwork, including a fully-formed business plan, that were required to apply for a loan. Along with the business advice and guidance, Pursuit provided the loan necessary for Nail Glam Studio to comply with the aforementioned state regulations, as well as enable the hiring of two additional staff members to expand the business with new pedicure and manicure stations.

Success and Community-Centered Growth

Since that first day without a paying customer, Yahaira estimates that they see more than one new customer every day simply through word-of-mouth. She credits this to a number of factors, including her focus on providing quality service at an affordable price. However, the emphasis on building a strong community is what really sets Nail Glam Studios apart from other nail salons in the area.

To that end, Nail Glam Studios holds community events every three months, usually corresponding with public holidays like Mother’s Day and Thanksgiving. Yahaira sees the events as a way to give back to those who are a vital component in the nail salon’s success.

Yahaira particularly enjoys Customer Appreciation Month, held every October to commemorate Nail Glam Studio’s founding–and that first nerve-wracking day–where she provides free goodie bags filled with nail-care products to customers.

A Family Success

Yahaira with her brother and sister

While building a community of happy customers in the south Bronx makes Yahaira proud, the most meaningful impact comes from much closer to home. A great example coming in the form of a text message from her nephew. In that message, he thanked his aunt for providing a place for his mom, Onaney, to practice nail styling and pursue her passion. This display of gratitude touched Yahaira and served as proof that she had achieved in what she set out to do–both professionally and personally. After all, none of this would have happened without Onaney, and now the sisters have succeeded in building a thriving business together.

Looking Forward

What began as a three-person operation has, with the help of the SBA micro-loan from Pursuit, now expanded to a staff of seven. For her part, Yahaira says that she is grateful for the loan and all support she has received until now from Pursuit. “I’m speechless with everything I’ve gotten as result of submitting this application. They have a lot to offer.”

Yahaira is now paying forward the help she was given by Pursuit in her own way, assisting other small business owners in the south Bronx as they seek to overcome the inevitable struggles encountered while striving to their own entrepreneurial dreams. She also has ambitions to open another store in the future to create even more employment in the local community.

Her story underscores the commitment of CNote and the Pursuit to helping ambitious women like Yahaira receive the support they need to turn their dreams into reality and enable local communities to thrive as a result. If you, too, would like to make a difference, please consider investing in CNote today.

Learn More:

  • Nail Glam Studio
  • Pursuit – A leading CDFI based out of New York and the CNote partner that provided the loan and technical assistance that helped make Nail Glam Studio a reality
  • CNote – Interested in helping create another success story? CNote makes it easy to invest in great CDFIs like the Pursuit, helping you earn more while having a positive impact on businesses and communities across America.
Love0
By Borrower Stories, Wisdom

Shavon Marley – Marley Trucking – An Opportunity Borne From Adversity

There’s a saying that goes, “If you bought it, a truck brought it.” That may only be true 73.7% of the time, but either way, there are a lot of truckers out there in the U.S. delivering the things that we use and rely on every day. Over a million, in fact.

Marley Transport & Trucking is one of those trucking companies. Yet, when we interviewed founder Shavon Marley, we found the incredible story behind this company is what makes it stand out from the crowd.

Shavon Marley, Owner & Founder of Marley Trucking

A family-operated business

True to its name, Marley is largely a family-operated business. Shavon Marley started the company. Later, her husband took the primary role as head of operations and dispatch. Her dad was the first driver they hired, bringing decades of experience and industry connections to the table. Her uncle, who had gotten involved in trucking through her dad, is their second driver; and their third and most recent, added due to a higher volume of work, is a friend of a friend.

Marley may be one trucking company out of millions, but it’s more than a business, it’s a family, both literally and figuratively. Needless to say, this small company, which continues to grow, is not only having a significant impact on Shavon’s family but her community as well.

Marley Trucking Team

For Shavon and her husband, it was a dream long in the making. Originally Shavon worked full time in sales, and her husband in cable and satellite installation, a demanding job that required him to work six days a week outdoors. “My husband and I were high school sweethearts also,” she told us. “…We always had this thing where one day we would figure out how to have our own business and set our own schedules, and be able to travel and be able to work from wherever we travel.”

That was the dream. But it was not until the onset of some difficult and unexpected circumstances that Shavon began to take action, turning her dream into a reality.

Tenacity in the face of pressure and adversity

Hyperbaric oxygen therapy room (Photo credit: mayoclinic.org)

The above image is of a therapy session occurring in a hyperbaric oxygen chamber. In 2016 Shavon would find herself spending a lot of time in these tanks: she was diagnosed with breast cancer in April of that year.

Others may have balked in the face of such hardships, but Shavon made the most of it. Her treatment allowed her “a lot of time away from work, and also a lot of time to think,” she told us with a laugh. Therapy sessions would last 7 hours each and occur 2-3 times a week — all without the distraction of electronics. She used the time to ruminate at length about the business she and her husband had always wanted to start.

“I’m picking up on inspiration everywhere.” -Shavon Marley

But she didn’t only think. She found herself engaging in conversation with some other patients. “I’m in this tank with all old people — but a really good group of old people.” This included business owners, people experienced in the trucking industry, and even a woman who had started a welding business and could provide advice in thriving in a male-dominated industry. “I’m picking up on inspiration everywhere,” Shavon told us. “So I’m going into this tank with my pen and paper, and I’m getting my questions answered.”

For some specific concerns, however, the people she was close to didn’t have all the resources she needed. “I didn’t really have immediate people within my trust circle I could go to and say, ‘How do I do this? What do I need to know? Does the loan make sense?’…I just didn’t know what to do.” Meanwhile, there was an increasing source of pressure in her ever-growing absence away from work, and her husband’s own job whose hours were long and kept them apart at such a challenging time.

Marley Trucking, a story of teamwork

But her father, a seasoned trucker, always believed in her. “He’d always tell me, ‘You’re a big girl, you’re smart, you can figure it out, you can figure anything out…’ — Okay, well, if I figure it out,” Shavon recounted, “then I solve all these problems.” With some help, she did.

One big part of the equation was assistance from Carolina Small Business.

Figuring it out with Carolina Small Business

When Shavon first connected with Scott Wolford of Carolina Small Business Development Fund, the business she had in mind was a dump truck business. Eventually, this would evolve into the transport and trucking business of today. Needless to say, there was extensive thinking, collaboration, and planning along the way, but Scott’s guidance helped see her through.

Scott found a driven, hardworking client in Shavon. “I think he could tell I’d never written a business plan before,” Shavon recounted. “But I think he picked up on the fact that I’ll research any and everything until I figure it out.” He directed her energies by coaching her on writing the business plan, providing tools and resources, and bringing certain costs and considerations to her attention — “all the things that you really have to kind of put some time into forecasting when you’re starting a business.”

In April of 2018, all of the hard work came to fruition. Shavon received a loan which was able to support her new business and fund insurance for the trucks in her growing enterprise. On April 30, 2018, Marley Transport & Trucking pulled its first load. Since then Marley Trucking has continued to grow and establish itself as a reliable transportation option across North Carolina.

The fast-growing fleet

Conclusion

There were still challenges after launch, such as finding brokers, meeting a high volume of work, and navigating the logistics of intermodal hauling. But Shavon used her trademark grit and research abilities to pull through. Now Marley Trucking has three drivers and does intermodal hauling from the Port of Wilmington.

Recently, Shavon and her husband took a trip to Mexico. Her husband would check his laptop in the mornings, but the afternoons would be devoted to hitting the beach. Working from wherever and whenever they want — their dream had finally come true.

“I don’t think we could’ve done any of that…without the funding,” Shavon told us. “We certainly wouldn’t have been able to grow.”

Learn More

Marley Trucking is based out of Raleigh, NC. If have transport needs in North Carolina, they can be reached at 919-757-5425.

Carolina Small Business fosters economic development in underserved communities through access to capital, business services, and policy research. Since 2010, the non-profit community development financial institution has invested more than $50.7 million through 661 loans to small businesses across North Carolina helping to create or retain more than 2,267 jobs.

 

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By Borrower Stories

Julia & Keith Pooler – Sacramento Laundry Company – From Coin-Ops to Job Creator

From Coin-Op to Hundreds of Employees – The Story of Julia and Keith Pooler

Often, we profile small businesses that may be solo operations or just have a handful of employees–yet the entrepreneurs that run those companies will always have a grand vision for just how big they can grow their companies. For many their benchmark may be focused on the number of customers they serve or the number of employees they have–but you can always be sure that the vision is ambitious. Read More

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By Borrower Stories

Marilyn Yu of Shared SF | Building a Space For Inspiration & Community

SHARED SF is founded on the apparent contradiction that 1 + 1 = 3. But as you’ll see, the math adds up.

Doing more together

What doesn’t fly in mathematics, can be irrefutable in the currency of community: When people work together, they can accomplish more than the sum of their parts.

And synergy is what SHARED SF is all about. “SHARED is a shared workspace for creative people. So that’s anyone who builds, designs or invents something,” explained founder Marilyn Yu. “It is based in the belief that together we can create greater things than we could individually or in isolation,” she states.

A space for entrepreneurs and creators

Indeed, if you take a walk around the premises, you can see how the physical layout of the place reflects that vision. From office spaces to fabrication spaces, communal tools and equipment, and lockers, SHARED provides just the right amenities to design anything from a motorcycle jacket to a website for an emerging startup.

There are larger spaces that allow people to “make a mess,” and small, quiet spaces “for work that requires a lot of thought and/or concentration.” There are also hangout spaces for members to discuss innovative ideas or just get to know one another.

Though the rooms vary in functionality, the place is decorated throughout in sleek, modern style, with black and white photos, dark wooden floors, and matted glass panel rooms. It reflects the values of creativity, innovation, and collaboration that are prevalent throughout this community space.

Nurturing Collaboration and Creativity

SHARED’s members — and there are 60 to 80 of them at any given time — are as diverse as the space that was created to support their aspirations. “We have a pretty broad range of people here,” Marilyn told us. From fine artists to genome sequencing companies and AI companies, to Marilyn herself, who designs women’s motorcycle jackets, there is no shortage of diversity in terms of craft. The common ground is that everyone is a small business, and everyone is passionate about what they do. It’s this kind of fire that is contagious amongst the members and fuels their work.

The common ground is that everyone is a small business, and everyone is passionate about what they do.

“I like being around people who are really passionate about what they’re doing,” Marilyn told us earnestly. “There aren’t people here who just come here because it’s their job. Everyone’s working on something that they feel very strongly about, and that’s really nice, to be around that kind of energy. ”

History of SHARED

“I think it’s pretty common for people to share a space with two or three other people — I mean people do that in their living situations as well,” Marilyn said when we asked how she got the idea of SHARED. Indeed, sharing space is normal and even necessary, as anyone who lives or works in an expensive city like SF will tell you.

Marilyn, working at SHARED

But when Marilyn conceived of the idea of SHARED, she was thinking about more than just saving money. Recognizing the invaluable synergy that comes from working with other creative people, she wanted to establish and maintain a reliable and affordable space for that.

Getting Support For Her Vision Wasn’t Easy

It was difficult in the beginning, though. To create the special space she envisioned, she had to have a building she could call her own. And to buy the building, Marilyn had to apply for a large loan. The application involved securing multiple positions on the loan, both from a local bank and CNote-partner, and mission-based lender, CDC Small Business Finance. “We went through a lot of hurdles for that,” Marilyn confided. “Shared workspaces, they’ve been around for a decade or two…but more risk-averse businesses like banks, like the federal government — they’re not really in on the latest business structures.” It took a lot of convincing to get the bank and SBA to believe in SHARED enough to invest in it.

“That’s where the CDC [CNote-partner CDC Small Business Finance] came in, because they were packaging the loan for the SBA,” Marilyn explained. With the help of CDC’s research alongside her own, Marilyn was able to help The SBA see the relevance of shared workspaces and to secure funding. In 2010, she purchased 739 Bryant Street; and after renovating the place for 90 days, she turned her vision into a reality.

More of a Community Than a Business

Now it’s fair to say that in the past 7 years, a unique little community has emerged out of SHARED. Unlike other shared workspaces, it has become something more than a workplace to its members. “It’s kind of like an extension of their home. They’ll leave their computer and their phones out, and they’ll go grab a bite to eat. It’s very familiar….I think maintaining a safe space for people to feel comfortable is very important,” said Marilyn when we asked her what she did to make her clients happy.

Another thing she does is hand select her members, looking for people who are both “professional, meaning that they’re serious about whatever business idea they have,” and a good fit for the existing members. Her carefulness has ensured that SHARED remains a place of synergy both professionally and personally, and it has really paid off for her and her members. “I love just seeing people meeting other people…Often, members will then collaborate and work on projects together. Or they become friends…” One member even officiated another’s wedding.

SHARED’s members are so close, that forced events like happy hours aren’t even needed. “I think people didn’t think they were very necessary…which is kind of a good thing” Marilyn mused. “They feel comfortable talking to someone outside of a structured mingling time.” Why bond in a bar when mutual passion, hard work, and a general openness and friendliness has already bonded you in the workplace?

Conclusion: 1 + 1 = 3

Just as this proposition describes what’s going on within SHARED, it describes what’s going on in the world of impact investing. Everyone has something to bring to the table. However small, it can make ripples of impact for others. Marilyn conceived an idea to create a space that will help small businesses get on their feet and thrive and the impact has been tangible and positive. CNote’s partner CDC, by offering their time, research, and innovative thinking did their share. And every small business that has gone through SHARED will, in turn, make their own impact.

You can make our own impact and help write more stories like SHARED’s by investing in CNote. Learn More.

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By Borrower Stories

INCAUSA – Indigenous Social Entrepreneurship meets community lending

Incausa – In the cause of others.

Today, CNote is profiling Incausa, and its co-owners, Vinicius and Carolina. Together, they’ve built a company that sells unique goods across the globe but also supports indigenous artisans by selling their crafts and returning 100% of the proceeds to them. Incausa received a loan from a CNote partner that allowed them to scale their company without sacrificing their social mission. 

Read More

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By Borrower Stories

Traveler: More than a business—A unique and close-knit community brought to life by a simple loan

Here at CNote, we fight for financial empowerment. That sounds like a lofty sentiment, but oftentimes it plays out fairly simply in reality: small businesses need loans, and CNote provides community lenders with the funds to make more of these loans. Traveler is one of the many success stories associated with community lending. We’re excited to share the story of Julie Cox and her small business, Traveler. Read More

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By CNote, Small Businesses

Small Biz Story | Mamacitas Cafe

A Different Startup, With a Quirky Mission

Mamacitas Cafe, a specialty coffee and baked goods retailer in Oakland, is different. A lot of other coffee shops may say the same. Be it their brewing methods, the coarseness of their grind, or the music heard playing in the background, this cafe is on a mission to elevate women of color.  This coffee shop offers it’s employees professional training, community building, and the ability to directly take part in day-to-day business tinkering and planning.

Impact First. Profit Second.

As with any coffee shop, Mamacitas Cafe was not immune to the challenges of a newly formed business. From payroll, equipment purchases, and construction to the unexpected removal from a commercial space it took serious commitment and foresight to stick to their guns and forge their own path. According to founder Shana Lancaster, at one point cash flow was barely enough to cover the rent for a temporary space let alone afford milk for the next day of business! Regardless, the founder’s resolve remained strong as taking on debt was not going to be an option. 

Why? Well, to start, they knew they wouldn’t qualify. But most importantly, traditional sources of capital would have put too much pressure to focus on what did not matter, such growing way too fast. So, Mamacitas Cafe went the alternative route and successfully completed two Kickstarter Campaigns and took out a Kiva Zip loan.

The co-founders are equally invested in their Oakland community as they are in their business. Growing up in the city and having participated in a variety of women and other minority groups, they have a clear point of view on the community issues. Young women of color are clearly a forgotten pool of talented, creative, and driven people who are continuously challenged to prove themselves time and time again. And the Mamacitas’ focus on empowerment, love and growth is what has put them on the map.  All the while tripling their revenue in just two years!

Success by Partnerships

Mamacitas Cafe, although awaiting their first commercial kitchen space, has been successful for the past two years due to their strong relationships in a values aligned community. From a subsidized shared kitchen space in exchange for food retail training to women of color to pop-ups around the East Bay this business will always do good for its community.

Small Business is Good Business

In the end, we should be remembering what it is a company does outside of its’ concrete walls. Mamacitas Cafe can do that in so many words that it is hard to choose the right ones. Growth. Empowerment. Resiliency. Earned Income potential. Education.

It doesn’t matter though. Because no matter what you or I think of them, they will always put their Sisters first. With quirky, heavenly donuts on the side.

Love0
By Borrower Stories

Roberto Romeo – Michiko Studios – Giving Local Artists a Place to Create

Finding the space to create

While New York City is overflowing with artists and creatives, one thing the city is always short on is space. This is especially true for musicians who need rehearsal spaces that are both affordable and acoustically sound. That’s where Roberto Romeo (pictured) saw a tremendous opportunity to expand his small business and support the community of local musicians. Read More

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By Borrower Stories

Fany Gerson – La Newyorkina – Seeing Opportunity When Others See a Challenge

Community Lender Helps Entrepreneur Grow Her Business

La Newyorkina is a place for handmade Mexican ice cream, paletas (ice pops), chamoyadas & other treats. It is also a fan favorite all around New York City. La Newyorkina is known for using unique flavors, fruits, and ingredients in its colorful paletas (Mexican popsicles). The journey to small business success wasn’t always sweet, but this story highlights just how integral a role community lenders can play in helping small businesses succeed, and the positive impact these loans can have on the communities they serve.
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