Ana Diaz and Jacqueline Capriles
Diaz Electric of New York, Inc.
Diaz Electric of New York, Inc. is an M/WBE-certified electrical contracting firm based in Brooklyn that received two contract-based in 2015. The loans, totaling $117,000, enabled mobilization for two new contracts that positioned the business for further growth in government contracting.
Ana Diaz and Jacqueline Capriles are the co-owners of Diaz Electric of New York, Inc. The company incorporated in February 2012 and specializes in residential, commercial and public electrical work. Jacqueline manages the office and Ana overseas the electrical work. Ana has over 15 years of electrical experience. She worked as a staff electrician at NYU for over 12 years before she decided to start her own business. Ana has a NYC Master Electrical License, is certified by the City, State and by the MTA as an M/WBE electrical contractor. Diaz Electric has completed jobs for Walgreens, the Department of Environment Protection, and NYU.
Ana Diaz attended the BOC’s Money Matters Workshop, a special program for M/W/DBE construction contractors sponsored by NYCEDC, BOC Capital, and Columbia University. This workshop series combines six classes with intensive, individual business counseling to help build financial capacity and prepare for loans.
Ana and Jackie worked with a business counselor to apply for a loan and to create cash flow projections for each project they were working on to determine when they needed the loan. They were also assisted in drafting a 12-month cash flow projection to understand future cash needs of the business. This information was a requirement for the loan application process.
The assistance that was provided to Diaz Electric not only helped them obtain a loan with BOC Capital but also provided them with the organizational skills necessary to bid on larger contracts and maintain formal accounting records.