Los Angeles LDC   
A Community Development Financial Institution  
Profile Programs Services Funded Projects Prequalification Form Contact Us Links Home
 
Funded Projects
Recently-Funded Projects
Project Profiles

Project Profiles


Peppard Family Trust

650 S. Clarence
Los Angeles CA, 90023

Census Tract: 2045
Street Minority:   95.13
Poverty:   43.57

Project Description
In 1996 Peppard Bros. Inc. a family business was preparing to move its LA facility to Orange County after nearly 40 years of operating in East L.A. The owners were selling their building and the change of ownership or landlord would have jeopardized the Peppard's continuing operations; furthermore relocation of their business would have been very costly. The Peppard Bros. purchased a 12,600 Sq. Ft. building the business has leased for over twenty-five years.

Neighborhood Description
The subject property has access to all major freeways. The subject property is located in Boyle Heights near the East L.A. freeway interchange. Minutes away from the Long Beach (710) Frwy.; Santa Ana (5) Frwy.; Santa Monica (10) Frwy. and the Hollywood (101) Frwy.

Community Development Impact
With the help of Los Angeles LDC Inc. The Peppard Bros. printing company was able to purchase the property that housed their operations for over twenty-five years. Also besides keeping a successful business in Los Angeles there were three jobs retained in the East L.A. empowerment zone.

Borrower/Sponsor
Peppard Brothers, Inc. was incorporated on June 24, 1959. The company's shareholders are four brothers Raymond, Daniel, Paul and William Peppard. William Peppard is the only shareholder active in the daily operations of the company. The company employs two sons of Mr. William Peppard, who operate the specialized bindery equipment used by the company.

Community Development Finance Effect
This loan kept the Peppard Bros. a family business in the East Los Angeles Revitalization Zone rather than closing its operations or relocating out of the city.

  % of Loan Loan Amount
B of A 50% $150,000
LDC 40% $120,000
Equity 10% $30,000
Total 100% $300,000

Sources and Uses of Funds:
Uses B of A LDC Equity Total
Land & Building $150,000 $120,000 $30,000 $300,000
Total Project Cost $150,000 $120,000 $30,000 $300,000
% Project Cost 50% 40% 10% 100.0%