Monica Yant Kinney: Frustration on own stimulus plan

You've heard of Joe the Plumber. Meet Carmen the Cabinetmaker - a South Philly guy trying to beautify the world one kitchen at a time.

His real name is Carmen Vona. He and his wife, Anna Maria, run Carmana Designs, a nationally regarded high-end cabinet and furniture company that, until recently, employed 14 people at its buzzing 30,000-square-foot headquarters in the old Abbott's Dairy.

In January, Carmana instituted four-day weeks to save money. By February, business was so bleak that the Vonas had to lay off what was left of their staff.

Now the sweethearts and their poodle, Chase, roam the building alone. Anna Maria reminds Carmen to turn the lights off and the heat down. Carmen tries not to lock the dog in the empty break room.

In the uncomfortable quiet, the couple got an idea: They'd spend money to make money, do their part to keep the economic riptide from drowning more innocent victims.

With an equity loan, Carmana could rehire employees until business picked up. Cabinetmakers would work instead on the building's exterior and renovate interior space for new tenants.

"I figure we're slow. I'll have the guys do historic windows, doors," Carmen explains, "generate the work in my own shop."

Anna Maria was giddy: "It would be our own economic-stimulus package."

It seemed like a no-brainer, asking for a $200,000 loan. Carmana has a $300,000 mortgage, but the Vonas boast of having put in $1 million in upgrades and equipment, including a $150,000 sander. The building is so big, they already lease space to an Indonesian church and a ceramic artist. A yoga studio will soon open in a ground-level spot fronting McKean Street.

"My tenants pay more in rent than my mortgage," Carmen maintains. "I've got more equity than I'd ever need."

TD Bank disagreed, denying the loan via e-mail. Among the reasons?

Reliance on short term leases for long term debt. Business does not show the ability to cover proposed debt if the tenants leave.

"I'm sorry for the bad news," a TD vice president wrote, "but the numbers are just not close enough for me to consider the new money."

Carmen took a few hours to calm down, then fired back his response.

"I know that money is now tighter and the regulations are stricter, but I am an optimist," he wrote. "I believe that when the market is down, one should create their own work if there is none to be had."

The irony was rich. Just a few years before, Carmana had built a $250,000 kitchen for Commerce Bank founder Vernon Hill in his Moorestown mansion. But with a new name and owners, the same bank now saw the master cabinetmaker as a credit risk.

"Instead of helping us," Anna Maria gripes, "they're kicking us."

A TD Bank spokeswoman wouldn't comment on the Vonas, but did tell me loans were up 4 percent, "which is awesome in this market."

The layoffs hurt as much as the loss of business because Carmen prides himself on turning rough city kids into polished craftsmen, mentoring while he's managing.

Years ago, for example, he was so impressed by a young man sweeping the floor in McDonald's, Carmen offered him a job on the spot. "He ended up running my shop."

After the letdown, Carmen watched President Obama's speech to Congress and "felt like he was talking to me."

So the businessman sent another e-mail - to the White House.

"How can you ask the citizens of America to spend their personal money to jump-start the economy if the banks who are getting billions in bailout money are hoarding it?"

"If I'm willing to take a risk," Carmen wrote, "so should they."

So far, no response. And no loan, though the Vonas have tried two other banks.

"I'll keep looking," he says. "I've got to get my guys working."