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AME Builders' Journey to New Headquarters with LISC Support

AME Builders Inc. (AME) is a commercial construction company specializing in roofing, waterproofing, wall panel and architectural sheet metal. Based in Upland, CA, the company undertakes contracts throughout Los Angeles and San Bernadino Counties and employs union labor. 

Founded in 2017 by Jung Hee Seo and her spouse, Dongwook “Don” Seo, AME has quickly established itself as a trusted name in the construction industry. The company works with both public and private entities, including K-12 schools, higher education facilities, historic renovations, retrofits, airport projects, military installations, and utility projects.

Don first heard about LISC LA's Asset Building for Communities of Color (ABC) program from a friend connected to the nonprofit Pacific Asian Consortium in Employment (PACE). His friend suggested that the ABC program could be just what the business needed to grow, and that advice set AME Builders on a new path.

With funding from Wells Fargo, the ABC program is designed to create pathways for small business owners operating in communities of color across Los Angeles County to grow, scale, create jobs, and fuel wealth creation. The program provides flexible capital with the goal of producing asset-building opportunities, supporting economic recovery and resiliency, and avoiding the displacement of local businesses and residents.

“ I'm so thankful and fortunate to have had this support, which will allow me to focus on growing my business and contributing to my community."
— Dongwook “Don” Seo, Founder of AME Builders Inc. (AME)

The ABC program provided AME with $200,000 in 0% interest financing for new construction equipment and $500,000 for down payment assistance. LISC also made a $2.21 million acquisition loan to AME to purchase a new headquarters. This loan was funded in part by the Abbott-LISC Initiative to Support Diverse Businesses in Health, supported by Abbott, and the LISC Entrepreneurs of Color Fund, backed by JPMorganChase.

The new location provides double the warehouse floor space and twice the ceiling height, which will support the storage of materials and supplies. The location is also closer to two main freeways, providing better access to project sites.

“The main reason we applied for the (ABC) program was because of their down payment assistance—it made a huge difference for us,” said Don. “Combined with their interest rates, there was no need to consider any other lenders.”

Don is very thankful for the support he received. “It was a great opportunity that I never knew existed. I'm so thankful and fortunate to have had this support, which will allow me to focus on growing my business and contributing to my community."

As the AME team settles into their new space, they are excited about the future. Plans are underway for the grand opening of their new headquarters, and they are eager to celebrate this achievement with their partners and supporters.

LISC LA is proud to have been a part of AME Builders’ journey and is excited to see them continue to grow, reinforcing our commitment to empowering small businesses through the ABC program and beyond.

Tags

AbbottEntrepreneurs of Color FundWells Fargo