CLIENT SPOTLIGHT
The Well
BBIF Helped Black-Owned Workspace Enhance Its Market Presence and Inventory
The Well, founded by Dr. Sallie Stone in 2016, is a high-design flexible workspace in Lakeland, Florida, catering to a diverse community of independent professionals, startups, and teams from both small and large businesses. To better meet the needs of their members, The Well collaborated with BBIF. This partnership allowed them to increase resources and update their social media presence, resulting in greater visibility and improved inventory management, which positioned The Well for sustained growth and success.
DEMOGRAPHIC
Black-Owned
LOCATION
Lake Wales, Florida
LOAN PROGRAM
Micro Loan Fund


THE CHALLENGE
Overcoming Growth Challenges and Enhancing Capabilities
Despite its success, The Well faced typical growth challenges. As tenant demands increased, maintaining a robust inventory became essential. To meet these needs, The Well needed to purchase additional equipment, including a 3D printer and printing paper, which were crucial for providing high-quality services and catering to the evolving needs of its diverse community of professionals and businesses.
Additionally, The Well recognized the importance of enhancing its marketing efforts to attract more traffic and business in the Lakeland area. This involved partnering with minority social media influencers and updating its website and social media presence to create a more engaging and informative online experience. These initiatives required significant investment, prompting The Well to seek additional funding. With these resources, The Well aimed to not only meet the immediate needs of its tenants but also position itself for sustained growth and continued excellence in providing a collaborative and innovative workspace.
THE SOLUTION
Strategic Partnership with BBIF: Securing Resources for Growth
The Well successfully connected with BBIF, forming a partnership that provided them with essential resources. Through this collaboration, The Well secured a microloan, enabling the purchase of vital equipment and inventory while enhancing its marketing efforts. This financial assistance was crucial in meeting tenant demands and maintaining an adequate inventory.
Additionally, the loan significantly boosted The Well's marketing efforts. With financial backing from BBIF, The Well revamped its website and social media presence, creating a more engaging and informative online experience for current and potential clients. BBIF's support proved pivotal in meeting The Well's immediate needs and setting the stage for continued growth and success.
Dr. Sallie Stone
Owner

THE IMPACT
Profound Impact of BBIF's Loan on The Well's Growth and Success
The impact of BBIF's loan on The Well is profound. With the acquisition of additional equipment, including a 3D printer and necessary supplies, and enhanced marketing efforts, The Well significantly improves the quality and range of services it offers. By continually adapting to the evolving needs of its diverse community, The Well remains at the forefront of providing a collaborative and innovative workspace, fostering an environment where independent professionals, startups, and teams thrive.
Financial support from BBIF paves the way for The Well to seize new opportunities, expand its project portfolio, and explore innovative initiatives that were previously out of reach. The ability to maintain an adequate inventory ensures that The Well can swiftly respond to tenant demands, minimizing downtime and maximizing productivity. The organization not only meets its immediate needs but also lays a solid foundation for future growth. BBIF's support is a pivotal factor in this transformative journey, highlighting the importance of strategic partnerships in driving business success.