EDC CLIENT STORIES

Searching for the American Dream, Paul and Liz Lai emigrated to the United States from Taiwan in the early 70’s. The couple was dedicated to building a life in California for themselves and their three children. After launching several unsuccessful businesses and working numerous jobs to make ends meet, their luck was turned around when Paul started managing his friend’s zipper company that imported and exported materials from Taiwan and China to the United States. When the original owner decided to retire, Paul and Liz dove in headfirst, excited to take the company to the next level. With the Lais leading the way, UCAN Zippers USA came to life and grew from four to over 200 employees.

Wanting to improve the quality of items available, the Lais set out to purchase machinery to start producing zippers in their own warehouse. Paul and Liz’s son, Malan, who runs the company’s operations said, “We were a family that took care of everything, but we were not trained in finance.” This made it difficult for UCAN Zippers USA to qualify for traditional bank loans or obtain a line of credit for equipment purchasing. The Lais started working with EDC SBDC advisor Sebastian Devivo and described “Working with Sebastian changed our mindset. We got our books back in order to show we could afford the equipment and got our first loan.”

During the COVID-19 pandemic, UCAN Zippers USA sought out EDC SBDC financial guidance again while applying for the Economic Injury Disaster Loan (EIDL) and the Employee Retention Tax Credit (ERTC) program. While dealing with changing regulations and staff adjustments, the funding helped UCAN Zippers USA sustain itself through challenging times. Today, UCAN Zippers USA is one of the last remaining zipper factories in the nation, which allows them to ensure fast delivery of high-quality products to their clients. Malan is excited to see growth year over year for the company and mentions that UCAN Zippers USA is now able “to look at different things we’ve never been able to do before because we didn’t have the capital or people or the expertise to help.”