Virginia Mattress & Bedding Corp. is a mattress manufacturing company located in the St. Albans neighborhood of Queens. Established in 2015, the business is 100% owned by its president, Mr. Jaime Rendon Pineda. Mr. Pineda is originally from Mexico and is a native Spanish speaker.
Mr. Pineda first met with REDC in December 2022, seeking funding to expand his business. As REDC counselors worked with him to collect required documentation for his loan application, they also helped him craft a business plan for his company’s expansion, and advised him on best practices for business financial management.
As REDC reviewed Mr. Pineda’s application in February 2023, our counselors continued to assist him through all steps of the process, including providing translation into Spanish as necessary to ensure smooth communication with our staff at all times. This diligent assistance paid off for Mr. Pineda and his business – Virginia Mattress was approved for $80,000 in low-interest financing, and the loan closed in early March. This loan was a part of REDC’s participation in the New York City Small Business Opportunity Fund program, and provided financing to help Mr. Pineda purchase new machinery to make more mattresses, as well as hire three new employees.
Though Virginia Mattress is a newer client, with its first introduction to REDC coming less than a year ago, Mr. Pineda and our staff have quickly built a strong relationship. As we do for all borrowers, REDC has continued to follow up with Mr. Pineda since his loan closing, and at our first post-closing check-in, Mr. Pineda shared how helpful REDC’s loan was to his business, and that he had already made two new part-time hires. Further, he has expressed interest in applying for another loan once he becomes eligible.
As we celebrate national Hispanic Heritage Month, REDC is especially grateful for the opportunity to serve businesses like Virginia Mattress, and people like Mr. Pineda. His story of immigrant small business ownership is precisely what REDC strives to help flourish, and we look forward to helping his business achieve a long future of success in its community.