BBIF Client Spotlight: Vinali Staffing, LLC
Vinali Staffing, LLC is a minority and woman-owned business that provides permanent and temporary staffing services across technology, accounting, healthcare, and the logistics industries. They were faced with the difficult circumstance that many small business owners experienced during the COVID-19 pandemic, not having the available funds to retain their full-time employees.
Ruth Valez, the owner of Vinali Staffing, explains how since she first opened in 2016, her business had been in a state of consistent growth. However, due to the pandemic, with many organizations downsizing, she found it difficult for her team to execute their tasks since a bulk of her clients no longer needed her services. Valez found herself needing to make the difficult choice of reducing the size of her team. Thankfully the opportunity to apply for the SBA’s Paycheck Protection Program (PPP) was presented to Vinali Staffing.
When Valez first applied for the PPP loan, it was through the financial institution that she worked with for the past 20 years. She explained the process as grueling; Valez felt like her application was another number that could become lost. She was able to get connected with BBIF after having the opportunity to hear about our mission on a webinar with Senator Rubio. BBIF’s loan team was able to work quickly and efficiently with Vinali Staffing to end their previous application and close a loan. Having the PPP loan allowed Valez to keep all 15 team members employed.
As of December 2020, BBIF, a community development financial institution (CDFI), headquartered in Orlando, Florida, has approved over $7.23 Million in funding to 200 Black, minority, and underserved businesses and has retained over 1,300 jobs.