Sound engineers Francois Blaignan and Sirinun Ploadpilew, owners of Tinitus Inc, in their LA studio
The Central West Region BusinessSource Center helped entrepreneurs Francois Blaignan and Sirinun Ploadpilew, owners of Tinitus Inc., obtain a $50,000 Small Business Administration microloan to refinance a high interest debt and renovate two music studios.

Francois’ work has been featured in TV commercials and he currently has contracts with Apple, Beats, Nike and Uber, along with work for feature films and music production.

In 2002, Francois and Sirinun purchased a building with room for four potential recording studios. They remodeled two, while two remained unfinished for several years. Yet, due to their high interest credit card debt, it was difficult for them to grow their company quickly.

In November 2018, Francois attended an Access to Capital workshop at the Central West Region BusinessSource and met with a loan manager, who reviewed their business cash flow and financial statements. The loan manager walked Francois and Sirinun through the entire loan process, including providing cash flow projections and financing options.

Francois and Sirinun finalized the loan process in February 2019.

With the additional capital, they are ready to finish renovating the two additional recording studios. The savings from refinancing the high interest debt and the increase in revenue from the new studios will allow Tinitus Inc. to make a stronger impact in the Los Angeles entertainment industry.

EWDD’s BusinessSource and WorkSource Centers offer a variety of Business Services, including several Financial and Development Incentive Programs and a Small Business Loan Program. Learn how EWDD can help.

This story is part of the EWDD UPDATES from the week of February 18, 2019. Read this issue and more.