$25K Small Biz Grant Revs Up Business for Santa Fe Auto Glass Shop

Mr. and Mrs. Carrillo opened A Touch of Glass in 2008, leveraging Mr. Carrillo's 22 years of experience in the auto glass replacement industry. Since then, they have built their reputation on providing top-notch customer service, ensuring that every customer who comes through their door gets their full attention.

Century Bank Commercial Lender Adam Stramel can attest to the Carrillos' work ethic first-hand. He first met the couple when he visited their shop a few years ago and they replaced a windshield for him.

"I went above and beyond for him so he went above and beyond for me," said Mr. Carrillo.

The way in which Mr. Stramel went "above and beyond" is through his key role in assisting Mr. and Mrs. Carrillo to obtain capital to expand their business. A Touch of Glass received a loan funded by an Economic Development Program (EDP) advance from the Federal Home Loan Bank of Dallas (FHLB Dallas), and an accompanying $25,000 EDP^Plus grant from Century Bank and FHLB Dallas. The loan helped fund the purchase of the building at 1121 Calle La Resolana, as well as marketing efforts, while the EDP^Plus grant is being used to renovate the building. The updates include interior/exterior paint, waiting room flooring and seating, electrical work, dry wall, shop work stations, and exterior windows.

A Touch of Glass will officially begin operations in their new building on May 1.

"By purchasing the new, larger building the business has provided ample room for future expansion and will be located in a more accessible and viewable area," said Mr. Stramel. "With the help of the EDP^Plus grant it will help them grow operations and hire additional help."  

Noncompetitive EDP^Plus grants are awarded in conjunction with EDP advances through FHLB Dallas members, like Century Bank. The grants are available on a first-come, first-served basis to promote and enhance small business development and job creation. The expansion of A Touch of Glass has created three full-time positions.

Gustavo Molina, SVP and chief banking operations officer at FHLB Dallas, emphasizes the importance of economic growth on a local and national level.

"Community investment tools such as the EDP advance and EDP^Plus grant have a positive domino effect on the local and national economy," said Mr. Molina. "When there is a job to be done, opportunities arise. A $25,000 grant, such as the one awarded to A Touch of Glass through Century Bank, is the kind of boost needed to get economic momentum going, not just on a local level, but across our five-state District."

Deborah Collins, certified business consultant and marketing coordinator at the Santa Fe Small Business Development Center, worked with Mr. and Mrs. Carrillo through the grant application process.

"A Touch of Glass is a great local, service-oriented company that understands the needs of its market," said Ms. Collins. "I am happy that I could help them obtain the capital they needed to enhance their business."   

In 2016, FHLB Dallas made $1 million available for EDP^Plus grants. In 2015, FHLB Dallas awarded nearly that amount to assist 50 small businesses in the Bank's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. In New Mexico, EDP^Plus grants totaling $60,800 were awarded to three small businesses.

Century Bank has been utilizing the EDP advance and EDP^Plus grant for seven years. "Together, we use the grant to help our customers grow and this helps us develop a strong relationship with the borrower," said Mr. Stramel. "Hopefully, in the end, the bank earns a lifelong customer."

It appears as though he has earned a lifelong customer in Mr. Carrillo. "Mr. Stramel took care of us like a mother would take care of a child," he said. "I don't know what we would have done without him or the grant."

About Century Bank
Established in 1887, Century Bank is a locally owned community bank that offers a full range of quality banking products and services to businesses and residents of Santa Fe, Española, Albuquerque, Las Cruces, and Rio Rancho, New Mexico. For more information, visit the bank's website at MyCenturyBank.com.

About the Santa Fe Small Business Development Center
SBDCs provide no cost confidential management assistance, business resources, and low-cost entrepreneurial education to current and prospective business owners. The Santa Fe SBDC is a member of the New Mexico Small Business Development Center Network with 19 centers statewide, an International Business Accelerator, and a Procurement Technical Assistance Program. NMSBDC is a fully-accredited member of the national ASBDC. The Network is a partnership of the US Small Business Administration, the state of New Mexico, the New Mexico Association of Community Colleges, the New Mexico Association of Independent Community Colleges and the private sector; building New Mexico's economy one business at a time.  

About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $42.1 billion as of December 31, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Visit fhlb.com for more information. 

Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

Photo - http://photos.prnewswire.com/prnh/20160407/352912
Logo - http://photos.prnewswire.com/prnh/20150126/171462LOGO

SOURCE Federal Home Loan Bank of Dallas

Related Links

http://www.fhlb.com