From assisting a restaurant where she regularly ordered food two decades ago… to the resurgence of vinyl… Seedcopa + SeedcoDE’s Loan Closing Manager Lauren Sandusky has seen it all while working with small- to mid-sized businesses. This month we’re asking her about the most unique loans she’s closed, as well as her top tip for lenders and borrowers
- How did you get your start in government-backed lending?
Before joining Seedcopa + SeedcoDE, I spent 5 years at PIDC (Philadelphia Industrial Development Corporation), where I first started working in the economic development sector. As a member of the Business Lending team, many of the loans I processed were funded by both local financial institutions and government funds. It was there that I realized how much I enjoyed helping local small businesses succeed and grow. When my family moved to Chester County in 2020 during the pandemic, I knew I wanted to continue on that path. I was very lucky to find a home at Seedcopa + SeedcoDE, where I am now able to work with small businesses throughout several Pennsylvania counties.
- What has been your favorite project so far?
My favorite loan thus far has been that of The Tomato Shack Salad & Pizza Co, formerly known as The Couch Tomato. I spent many years frequenting and ordering from this restaurant while living in Manayunk about 20 years ago. Since that time, they have expanded and opened locations in both West Chester and Conshohocken. Not only is the food delicious, but the owners, Craig and Mike, are down-to-earth, great people. Craig has said that Seedcopa + SeedcoDE was a “lifesaver.” If they had not had the ability to refinance their current loans at our lower rate, their monthly expenses would have been greatly impacted. It was quite a full-circle moment that makes me proud to do the work I do.
- What has been the most unique project you’ve worked on?
We recently closed a loan for Studio 4 Vinyl, located in Coatesville. This company has become known for its high-quality manufacturing of vinyl records, which continue to grow in popularity again. I was able to visit the project property and see the time and precision that goes into the pressing of a record. The owners, Phil and Obie, are staples in the music industry — producing, recording and mixing for a number of various artists such as Lauryn Hill and Jon Bon Jovi, as well as local hidden “gems.” In addition, Phil and Obie play a large part in their community, by setting up soup kitchens and offering employment to local Coatesville residents. A fantastic company and mission all around.
- What’s your favorite part about the job?
My favorite part of the job is creating relationships with both Lenders and Borrowers. Our Lenders play a crucial role in not only referring their Borrower to us to fill a financing need, but in entrusting their banking relationship to Seedcopa + SeedcoDE. Lenders often are relied on as a liaison and assist us at every level of the process – application, underwriting, closing and even servicing. I believe it is imperative that we form and maintain a mutual trust as we both want what is best for the Borrower and their business. Being able to meet and work with the Borrowers directly is a huge benefit to the loan process. I am able to understand their needs, timeline and personality in order to make their experience with the SBA closing process more efficient.
- Tell us about your Philadelphia-area roots.
I grew up in the Somerton section of Northeast Philadelphia and attended Lasalle University in the Olney section of North Philadelphia. Over the years, I have also lived in the Roxborough, Manayunk, Washington Square West and Graduate Hospital neighborhoods of Philadelphia. It wasn’t until our family moved to Malvern a few years ago that I first lived outside of the Philadelphia city limits, which my husband still finds shocking, having lived in various cities over the years. To say I am a proud Philadelphia native is an understatement!
- Anything you’d like to share about your family and/or personal passions?
In March 2024, my mother Patti passed away after a courageous battle with ALS. She was officially diagnosed in October 2022 and during her journey, I experienced firsthand the physical, emotional and mental toll it takes on a patient and their families. The ALS Association was a tremendous help in working with our family in getting the equipment and resources we needed over the last few years, as costs incurred are minimally covered by insurance. In 2023, our team “Patti’s Posse” was created to participate in The Walk to Defeat ALS that takes place in November each year in Philadelphia. So far, we have raised a total of $10,558 to help assist other families affected by ALS and find a cure for this terrible disease.
- What’s your top tip for lenders and borrowers?
No SBA loan closing is ever cookie-cutter. Each business, project and loan have various nuances that can change the timeline of closing. However, our team is trained to work through those challenges and strive to get to the finish line as quickly and painlessly as possible. There is a lot that happens behind the scenes on our end to make sure our Lenders and Borrowers are kept involved but not overwhelmed. Just remember: We want to close your loan as much as you do!
