Alex Cordova is the owner of Magic Oil Box, LLC, a horror-inspired aromatherapy business whose name is a reference to “Buffy the Vampire Slayer ” tv show magic shop. “Working with essential oils, I simply added ‘oil’. So, the Magic Oil Box,” Alex explained. Alex is a 1st generation Hispanic college graduate from the University of La Verne and a member of the Los Angeles LGBT Chamber of Commerce.
Alex was receiving information from several different organizations including NASE and LALCC. Alex received updates on the California Dream Fund, a grant aimed to fund new start-up businesses with up to $10,000 in seed funding. Alex reached out to start working with the University of La Verne SBDC to get help with his business and the Dream Fund Program.
Challenges
Alex’s main challenge was having the working capital to run the business. As the Magic Oil Box was only starting up and Alex was still working a full-time job and doing events every week, it was difficult to qualify for business loans. “I didn’t really know where to begin because you know, you can google search anything, but how do I know it’s legitimate,” said Alex. Alex also struggled to do bookkeeping for the business at a reasonable cost for a new entrepreneur.
Solutions
Alex first met with Advisor Mark Hicks to create a business plan to manage the business and pursue funding opportunities. Alex was later accepted into the Dream fund training program to apply for the grant. “By doing so I was already ahead of the game once I completed the California Dream Fund Courses and translated it from one format to another. It was just a very smooth process for me,” Alex explained.
Results
The Magic Oil Box, LLC received a $5,000 grant from the California Dream Fund program in December of 2022. Alex was also able to receive an additional $2,000 for an e-commerce grant through Accion Opportunity Fund and FedEx.
“Just talking to people who had the knowledge of building and running a small business from a theoretical perspective but some who had small businesses, it just made things click,” said Alex.
“Once I started using them (SBDC) as a resource I recommended it to all my small business friends I’ve made over the last year and a half.”
