Former mortgage loan officer Richelle Stannard had long dreamed of starting an interior design business. In 2010 she decided to follow her entrepreneurial instincts and Staged to Sell by Richelle began staging homes for sale in the Los Angeles area.
When the COVID-19 pandemic put a temporary pause on in-person real estate showings, brokers’ open houses and more, Stannard experienced a business slow-down and realized that her expenses – a warehouse, truck and inventory, as well as insurance – couldn’t depend on an immediate bounce-back in business.
While real estate showings slowly resumed, Stannard knew she needed help in the near term. She reached out to PACE Business Development Center, a nonprofit in Los Angeles that aims to advance the wealth of its communities, for support. After getting a referral to CRF through PACE, Stannard applied for a first-draw PPP loan in February 2021.
Stannard credits CRF’s simplified application process and attentive customer service with her ability to receive a first-draw loan, as she was unable to complete her application on time for the first round of PPP funding.
With the real estate market continuing to improve and COVID-19 protocols in place for home showings, Stannard can now focus on growing her business and designing and staging perfect homes for sale.