From Mexico to Fort Worth: SBA Financing and Esmeralda Polanco’s Entrepreneurial Journey

Imagine starting a new life in a foreign country and, within a few years, launching a thriving business. Enter, Esmeralda Polanco. She and her husband Octavio have founded OYE Roofing Supply, a small business success story in Fort Worth, Texas.

Searching for a better opportunity for advancement, Esmeralda embraced the encouragement of her loyal customers and the support of her community to venture into entrepreneurship.

Today, OYE Roofing Supply stands as a testament to their hard work, dedication, and the invaluable assistance they received from industry mentors and the Small Business Development Center (SBDC) of Tarrant County.

Building Experience for a Successful Roofing Supply Business

Esmeralda moved from Mexico to the United States in 2017 when she married Octavio. But her journey into the world of roofing supplies began just over five years ago when she began working at another roofing supply company.

“Customers (primarily general contractors) who came in and out of that establishment would often encourage her to start her own business because it’s a big pie, and there’s money in it,” says Octavio. Motivated by their encouragement, Esmeralda decided it was time to carve out her own path.

“When she decided to venture as an owner, these customers were very helpful with information on how to acquire suppliers and which items are the best sellers,” Octavio notes.

Upon deciding to start OYE Roofing Supply, Esmeralda and Octavio embarked on extensive planning. The found new providers, checked the competition, and performed various analyses such as budget and sales forecasts.

“The planning, the start to find the new providers, profit, check the competition around the place,” Esmeralda recalls were all pieces of the pie.

The Role of Key Advisors in Business Success

Understanding the complexities of setting up a business, they sought advisory services from Kamiko Grant and the SBDC.

The SBDC helped them develop their business plan and financial projections. “Kamiko was the one who helped us with the business plan,” Octavio shares. “She pretty much gave us a road map of the ins and outs of a business plan.”

Overcoming Challenges and Building Community Connections

Despite facing a language barrier, Esmeralda successfully navigated the business landscape primarily in Spanish. Her strong customer service skills allowed her to connect deeply with a predominantly Latino client base in the roofing industry.

This connection proved invaluable in building a loyal customer base and garnering trust within the community. “Give customers a good experience and good service. Listen to them and, if I don’t have the material they need, try to find another location or provider to give the service they need,” Esmeralda emphasizes.

Their strategic approach included recommending financial and business classes for minority business owners. Octavio played a crucial role as confidant and interpreter. He took the lead in finding the business location and acquiring necessary tools like forklifts and pallet jacks.

“We took classes. [Esmeralda] found out about a couple who are lenders, but they also provide financial classes to the Spanish-speaking Community. We went to a few of those classes that were online and in-person. We got a lot of information from them as well,” Octavio explains.

Securing Funding from CDC Small Business Finance

OYE Roofing initially faced setbacks with a different lender. However, they successfully secured a loan through Nina Braden at CDC Small Business Finance by utilizing projection-based lending.

This approach, combined with strong industry experience and excellent credit scores, enabled them to receive the necessary funding.

“My job is to collect those preliminary documents, which include the projections, and make sure they make sense,” said Nina. “The SBDC did an amazing job, so I was able to prequalify them very easily.”

By early April 2024, a $165,000 SBA Community Advantage Loan was approved by CDC Small Business Finance. The flexibility of the loan utilized less conventional criteria, such as Esmeralda’s projections and business plan. The loan included working capital, inventory, equipment, furniture, and fixtures to furnish the retail and warehouse space. “If we had any questions with Nina, we would have an answer in less than 24 hours. With the other lender, it could be days,” Octavio notes.

The soft opening of OYE Roofing Supply happened in mid-April, with the first official month being May 2024, when the business saw positive initial results.

“They were funded in early April, and they opened their doors in May,” confirms Nina. This rapid transition from funding to operation showcases their preparedness and efficiency.

Currently, the husband-and-wife team run the business themselves – Esmeralda manages the day-to-day office logistics while Octavio offers warehouse support. But the future looks bright for their budding business. 

Creating Jobs and Supporting Economic Growth in Fort Worth

OYE Roofing Supply prides itself on being community-focused, offering transparent and competitive pricing, and establishing connections with other local suppliers.

“That’s what people like—they like that we’re transparent,” Octavio shares. This philosophy fills a gap in the market but also strengthens the local business ecosystem by encouraging mutual support and collaboration among industry players.

Their future goals include ensuring financial stability for retirement and potentially selling the business. “We’re not in the business to become millionaires. That’s not the goal,” explains Octavio. “Our goal is to provide excellent service, help the community, and above all, give an example to our children that everything can be done with effort and dedication.”

OYE Roofing is working to contribute to the local economy and plans to create more jobs in Fort Worth. Their mission aligns with CDC Small Business Finance’s goals of supporting underserved entrepreneurs and communities, fostering economic growth in markets like Dallas-Fort Worth.

The Power of Guidance and Support

“Thanks to everything that happened along the way—Kamiko’s guidance, Esmeralda’s brain, my support, the loan—everything fell into place, and we are where we are because of that,” Octavio acknowledges.

Nina echoes this sentiment: “Kamiko Grant was the SBDC advisor that referred them over to me, and she was just excellent. If I needed anything or if they needed anything, we just teamed together to make this loan go through. The SBDC is the reason we got this funded.”

Nina goes on to tout the surrounding business community as a supportive environment to budding businesses especially in underserved areas. “This is a great place to start your business. Through organizations like the local SBDC and CDFI Friendly Fort Worth, a lot of entrepreneurs come to us already with the knowledge they need to find funding and to achieve small business success.”

“We appreciate partnerships like CDC Small Business and SBDC on opportunities for businesses to close capital access gaps,” says Stephanie Delgado, Business Development Manager for CDFI Friendly Fort Worth, an independent, not-for-profit organization that exists solely to match CDFIs to financing needs in the area.

Commitment and Encouragement Feed Small Business Success

OYE Roofing Supply is a powerful reminder of what can be achieved when passion meets support.

Esmeralda and Octavio Polanco’s story is not just a road map to building a business – it’s a compass to realize dreams and develop community growth. Thanks to the guidance of Kamiko Grant from the SBDC and the crucial assistance of Nina Braden and CDC Small Business Finance, Esmeralda’s vision has become a reality.

For anyone with a dream and the determination to pursue it, OYE Roofing Supplies’ journey proves success is possible with the right support from the small business community and a mission-focused lender.