| Larry and Guadalupe (Lupe) Spaller contacted the Del Mar College Small Business Development Center in February 2003 for help structuring a proposal to purchase an existing child care center. Lupe Spaller is a state licensed child care director and has 16 years of experience in day-care service. She's been recognized by the state as one of the best in her field and has dreamed of one day owning her own child care center. Unfortunately, the purchase price for the child care center was more than the Spallers wanted to pay, and the deal fell through.
Larry and Lupe were undeterred, however, and continued their endeavors to open their own child care center. They negotiated a contract to purchase three vacant lots along the Crosstown Expressway and made arrangements to have two buildings relocated and combined on the site. The Spallers contacted the SBDC again in March 2004 for help structuring a business plan and loan proposal to build their own child care center. SBDC business advisor Michael North assisted them in preparing a business plan with cash flow projections and financial statements.
After the plan and financials were complete, Larry and Lupe approached AmericanBank for the financing and both the bank and the SBA approved them for the loan. Unfortunately, shortly after closing the loan and purchasing the lots, Larry and Lupe encountered problems with their building contractor that led to litigation. AmericanBank, however, supported the Spallers and, in addition to the SBA loan, ended up approving them for a separate, conventional loan to complete this project. According to Larry and Lupe, "We're very pleased with the business plan and the outstanding help we received from Mike North and the SBDC. The business plan helped in procuring our loans. The SBDC provides great guidance and a positive attitude and really helped with enthusiasm."
Although the Spallers ended up having to borrow more money, the end result is a larger building that can take care of 17 more children than originally planned. Lupe Spaller has achieved her dream and is now the director of her very own child care center -- Bundles of Care! Bundles of Care Child Care Center is located at 902 16th Street and is licensed for 97 children ages 4 weeks to 12 years. The facility is open 6:00 a.m. to 6:30 p.m. Monday through Friday. Bundles of Care officially opened January 1, 2006, and has created 11 new jobs. For a tour of the facility, contact "Mrs. Lupe" Spaller at (361) 887-8998.