About IDF Studio
IDF Studio is really a San Francisco-based design firm that are experts in creating innovative, unique and functional living and work spaces for San francisco bay area residential clients as well as businesses (including Nerdwallet's!). IDF, however, is much more than simply your typical design firm. Apart from crafting beautiful spaces, the company also creates lots of job opportunities because of its community and supports its fellow small businesses by relying upon local vendors and manufacturers. Founder Kassin Laverty started the company in '09 and gradually expanded her business by continuing to keep overhead costs low, drawing upon her extensive connections, and following leads through word of mouth. By 2012, IDF Studio had five employees along with a growing listing of commercial clients. In order to ensure further expansion, Laverty realized she would need capital to invest in marketing and also to hire more designers and operations staff.
Interior Design Fair Partners with Pacific Community Ventures
After extensive research, Laverty reached out to several financial institutions this year. However, because IDF was so new, the design firm didn't qualify for a company loan. While Laverty continued the quest for capital, she attended a mixer with Pacific Community Ventures, where she learned about its loan fund, which offers loans of $10,000 to $200,000 to growing Bay Area businesses. Excited with this huge opportunity, Laverty eagerly filled out the borrowed funds pre-application for PCV and was promptly matched with a financial advisor through the organization's business advising program. The advisor provided hands-on support through the application and helped her draft financial projections.
Pacific Community Ventures reviewed IDF Studio's application with a holistic look at some Cs of credit. After determining that IDF met the borrowed funds fund's minimum requirements which the company would create more jobs in the area, the organization's loan committee approved IDF's loan request. Even after finding the loan, Laverty is constantly on the work with her financial advisor on the quarterly basis. She advantages of these free consulting services, as they offer an extra pair of ears and eyes on her company's financials while also helping Laverty refine new ideas that may benefit IDF. IDF Studio currently includes 14 full-time personnel and five part-time contractors who receive ample benefits, including paid time off work, maternity/paternity leave, any adverse health care stipend, education funds and training to develop professionally. Due to its rapid growth, the company just relocated to some larger office in Potrero Hill.
Tips for Small company Owners
Prior to getting a loan from Pacific Community Ventures, Laverty conducted extensive research on the most appropriate lending product on her business. Laverty is especially very happy to have found someone who shared her belief in creating economic chance of her surrounding community. Taking the time to find the right organization to utilize requires patience and effort, but can ultimately be very rewarding. IDF's resolve for supporting its community is also reflected by its relationship with local vendors. For just about any given project, IDF Studio has a network of smaller businesses that offer sewing, furniture-making and construction services. These mutually beneficial relationships highlight Laverty's thought that “when a lot of smaller businesses interact, we are able to create a healthy and vibrant local economy.” Like many entrepreneurs, Laverty's time is her most valuable resource. Rather than trying to do everything, Kassin builds her team's skills and also maximizes the talent within her company with the aid of her advisors from Pacific Community Venture's business advising program. By doing this, Laverty supports her team's professional development, receives expert consultancy from industry leaders, and reaches concentrate on what she enjoys most, namely, facilitating further growth on her business.
