Bank of America 2013 Annual Report Download - page 9
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7
Spicing up the
small business
community
When the aerospace company
that employed Jose-Luis
Saavedra shuttered in 1971,
he seized the opportunity
to turn a longtime hobby into
his life’s work, creating Tapatío
Hot Sauce. He took on part-time
jobs to pay the bills and spent
the rest of his time making and
selling hot sauce. Large, repeat
orders from local grocery stores
and restaurants eventually led
to full-time operations, and
in 1984, Saavedra came to
Bank of America with a dream
of quadrupling his business.
Bank of America helped the
family purchase its current
facility in 1995 and has since
connected the growing business
with everything from equipment
loans to wealth management
services. Today, the company
distributes its products nation -
wide with exports to many
countries. Their entrepreneurial
spirit — com bined with support
from family and friends like
Bank of America — have
made Tapatío Hot Sauce an
inter national sensation.