California rink operators become owners and advertising stars

January-February 2014
RINKSIDER
13
California rink operators become owners
and advertising stars
By Kathy Bergstrom
J
Independent Voice of the Industry
The couple first went to a bank suggested by the developer but were eventually turned down for a loan because the
bank considered the rink a single-use
building, Jean Saya said.
Then Eric Saya talked to the financial institution where he and his family
bank, Redwood Credit Union, and the
loan officer there said he would take a
look at the building. The Sayas eventually qualified for a 20-year $1 million
SBA loan at 4 percent and a $1.25 million
traditional loan from the credit union at
4.75 percent. They closed on both loans
in December 2012.
According to the SBA’s web site,
the SBA sets guidelines for loans which
are made by lenders and others. The SBA
guarantees those loans, eliminating the
risk to the lenders.
The Sayas still had to come up with
$250,000 to qualify for their loans. They
felt fortunate that they qualified for a
home equity line of credit that allowed
them to make the downpayment in spite
of the challenging real estate market in
California.
In applying for the loans,“the paperwork is lengthy,” Jean Saya said. “It can
be a little daunting.”
ean and Eric Saya have operated Cal
Skate Roller Blading and Skating
Center as if it were their own for
the last 10 years, but they finally made
that ownership official with the help of a
loan backed by the U.S. Small Business
Administration about a year ago.
Cal Skate is in Rohnert Park, Calif.,
a city of about 41,000 people about an
hour north of San Francisco in Sonoma
County. The rink was built in 1976 and
was scheduled for demolition in 2001 as
a dot-com company located on adjacent
The Saya family of Cal Skate in Rohnert Park, Calif., were featured in an ad
property planned to expand onto the rink
campaign for a local area credit union.
site, Jean Saya said.
She admitted that the couple didn’t helped the couple and made the process
She had been teaching competiknow a lot about financing when they much easier, she said. “They’ve made us
tive skating at the rink since 1984, and
shopped for loans but advised finding a feel like they were as excited about it as
the competitive skating club obtained
financial institution that believes in your we were.”
a 30-day delay of the demolition from
business.
“Over the 10 years that we owned
the city to see if the rink’s closure could
Their loan payments would be about it, we treated it like it was always going to
somehow be prevented. Within that 30
the same as their lease payments, so they be there. We tried to make the improvedays, the dot-com bust happened.
could demonstrate their ability to make ments we could, but there are certain
The dot-com company planning the
the payments. “They knew that we had a things you just don’t do if you don’t
expansion saw its stock price plummet,
history of paying that amount already so know if you’re going to be there,” she
and the developer decided to hold off on
they knew that the rink could support that said. “It feels so much different owning it
the project, Saya recalled.
payment,” Saya said.
than it did leasing it.”
“The developer was stuck with a
The credit union’s loan officer
Cal Skate’s relationship with its new
roller skating rink that he didn’t want,”
lender continued after the loan documents
she said. The operator at the time continwere signed. The Sayas and their rink got
ued to lease the rink from the developer,
a bonus of being featured in an advertisbut after a couple of years of being in
ing campaign for the credit union.
limbo gave notice that the rink would
The credit union sent a camera crew
close.
to the rink to shoot pictures of the Sayas
The Sayas approached the develand their adult son and daughter and
oper about trying to keep the rink open,
grandson. What they thought would be
and he agreed to allow them to operate
a few snapshots turned into a four-hour
the rink. They bought the business from
session that included a make-up artist and
the previous owner in 2003, while leasing
hair stylist.
the building from the developer.
Beginning in June, the Sayas and
The previous two years of uncertheir rink were featured on the credit
tainty had done their damage, and the
union’s web site and in magazine and
rink needed some major repairs. “We
newspaper advertisements with the theme
kept it going, and the first year was ter“Get Your Business Rolling.” They were
rible,” Jean Saya said.
even featured on a billboard on U.S.
Just after the Sayas took over, they
Highway 101 during August and Sephad to completely overhaul the snack
tember.
bar and install new carpeting after local
The advertising was “icing on the
health officials shut the rink down folcake” for such a great experience worklowing an inspection. Roof repairs and a
ing with the credit union, Saya said.
new air conditioning system followed.
This year the rink’s business is up
In 2012, the Sayas’ landlord offered
about four percent. The Sayas have made
to sell the building and 3 acres to them
mostly cosmetic improvements since
for $2.5 million.
buying the building, including updating
As part of the deal, the develthe rink’s lighting.
oper would retain the rink’s parking lot
Cal Skate employs 20 people,
because it had frontage on a visible road,
including the Sayas’ son, Nick, who is
but he built a new parking lot for the rink
a manager, and daughter, Erica, who
behind the building and included that
teaches skating and does some office
land in the acquisition.
work. Cal Skate has an artistic team,
“Then it was just a matter of could
speed team and adult and junior roller
we possibly qualify for a $2.5 million
derby teams.
loan,” Jean Saya said. “I’m just a skating
“I think it was all so positive,”
teacher that had no business experience
Jean Saya said of the lending experience
past trying to keep the skating rink open
and the subsequent ad campaign. “Any
for 10 years.”
time people driving down the freeway
Eric Saya has a full-time job as coror opening a magazine sees roller skatrectional deputy sergeant for the Sonoma
ing in a positive light …I think it’s all
County Sheriff’s Department.
The credit union's campaign included outdoor (billboard) and a print ad.
positive.”
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