Davidson Films Inc., Silicon Valley
Davidson Films, Inc. is a small, family-owned and operated documentary film company that specializes in producing educational content for college-level courses including psychology, neuroscience, and early childhood development. Daughter Jean and her husband Trent want to continue her family’s legacy in producing premium documentary content for consumption in the U.S. and international markets. With their academic and professional background combined, Jean and Trent shared a passion in higher education, and were determined to acquire the family business and take it to the next level. They had decided to become the new owners and were eagerly seeking capital to finance acquisition of the family-run business.
Jean and Trent came to the Silicon Valley Small Business Development Center (SBDC) because they were new to the lending process, and wanted to receive guidance in developing a solid business plan with financials to demonstrate their ability to acquire and manage the family business. They also need education in the government-backed small business loan program, advice from a financial/loan specialist, and introductions to banks.
From the onset, client met with Silicon Valley SBDC business advisor, Jenny Huang, who helped them understand the steps required to acquire financing and gave specific feedback on their initial business plan. Jenny worked with Jean and Trent in guiding them on key components and considerations to include in their plan, helping them with their business focus, fine-tuning target markets, articulating their differentiation, and developing growth and marketing strategies. She then introduced them to Emma Gonzalez, our Silicon Valley SBDC loan specialist, to do an initial assessment on the financial side of the business, and gauged their potentials in getting the loan amount that they were requesting. Jenny continued to work with the client to finalize their loan package preparation; when it was ready, she introduced Jean and Trent to the appropriate lender. As they proceeded along the process, Jenny also introduced client to legal experts to assist with their business acquisition purchase agreement. The client also made significant strides in working with the banker to ensure subsequent information and due diligence requests from the bank were submitted timely for a smooth loan application, business appraisal, and approval process.
Because of a solid business plan, a well-prepared loan application package and support process, lender Wells Fargo bank was able to review the application and approved the loan within 8 weeks. New owners Jean and Trent obtained a SBA loan and will acquire Davidson Films, Inc. in late July, making their dreams come true in continuing Davidson Films’ legacy, now and into the future.
“Our Silicon Valley SBDC business advisor, Jenny Huang, and loan specialist, Emma Gonzalez, have been instrumental in helping us through the lending process by getting us prepared with a compelling story, and connecting us to their contact at Wells Fargo bank who is on standby and ready to work with us. Their relationship with Wells Fargo bank gave us the credibility that we otherwise would not have if we were to do it on our own. We are thrilled to have the opportunity working with a dedicated team of business advisor and financial specialist, whom showed a genuine interest in ensuring that our goals are met and that our dreams stay alive.”