SBA Loan Helps Fuel Quick Boku Growth
A Ventura small business that produces organic whole-food nutrition has been held up by Rep. Lois Capps, D-Santa Barbara, as a good example of the private sector partnering with federal resources to achieve success.
Capps visited Boku International on Olivas Park Drive on Monday afternoon. She met with company founders Lynn Rolle, who is CEO, and her husband, Reno Rolle, who has a background in media and marketing and co-authored “The Ultimate Guide to Natural Health Quick Reference.”
“We know it’s particularly challenging here in Ventura County with our slow recovery from recession, slower than many other states,” Capps told the Rolles. “Particularly in today’s climate, your achievements just really stand out all the more.”
Boku International, founded in 2007, makes and sells Super Food and Super Protein powders containing high-density nutrients from plants, fruits and vegetables from around the world. The products are U.S. Department of Agriculture certified organic and kosher.
The company has seven employees and only sells its products via http://bokusuperfood.com.
In 2009, as sales were beginning to really take off, Lynn Rolle successfully applied for and received a loan from Montecito Bank & Trust that is guaranteed by the U.S. Small Business Administration. The government would reimburse the bank for the original loan amount if the business fails.
Rolle received a $175,000 fixed-term loan and $150,000 in a revolving line of credit.
“With the first part of the money, I was able to buy additional inventory,” she said. “Our business was so popular, we were in back order and so the money allowed me to really get going.
“The loan gave me the boost I needed. You need money to make money, and it came at a critical time,” she said.
“With that money, I was able to obtain all my goals.”