Contra Costa County Small Business Development Center
Los Tacos De Pancho originally started in 2001 by Francisco and Carmen Lopez in Concord. The owners are respected members of the local community and were awarded the 2011 Small Business of the Year Award by Small Business Association of Contra Costa.
“I’m very happy with the support that Titi Ikhile and the SBDC provided us. She (and the Center) offered direction and access to funding needed to make our dreams of acquiring our business come true.” - Iran Cota, new owner of Los Tacos de Pancho.
Los Tacos de Pancho was owned and operated by Francisco and Carmen Lopez until 2013 when they decided to retire. At that point their daughter, Nancy Cota and her husband Iran expressed a strong interest in acquiring the business and continuing the family tradition. They faced an obstacle, however, in securing the funding to purchase the business and in implementing a successful succession plan. Iran and Nancy approached the SBDC for advice and support in both processes. Their lead advisor, Titi Ikhile helped them to find the most suitable lender and worked with them through the entire process. Simultaneously, other SBDC advisors provided additional practical advice on the steps necessary to successfully transfer the knowledge of the previous owners to the new. Today, Los Tacos de Pancho is thriving under the new ownership, which continues to work with Contra Costa SBDC to manage the growth of the business.
- Secured a business term loan of $50,000
- 20% increase in sales
- Retained 5 jobs
- Created 2 new jobs
- Implementation of successful succession plan