REDCO

Joe DiStefano is the president of REDCO,

Let's get to know Joe.

What branch of the United States military and why? 

I served in the U.S. Army as an infantryman. I come from a long line of family members who served in the military, so serving myself was something I knew I’d always do. My father was a Navy Seabee, my grandfather was a Marine tanker, My uncle was a Marine fighter pilot, and my aunt was a Navy nurse. My choice to serve was a natural one, but my choice for the Army was borne out of not wanting to be stuck on a ship at any point in my career. But, I always knew I wanted to be in the infantry, so the Army was my choice… and I loved it!

What were some of the reasons that you joined the military? 

See above. 

How did you choose your business? 

My business actually chose me, in a way. I didn’t’ think that my 10 years in the military, in a combat role, would have any hard marketable skills outside of doing physical security contract work or law enforcement, neither of which I was interested in. For me, outside of the military, I wanted to finish my college degree – ultimately, I earned a B.A. in  English - and become a teacher, and I needed a job in the meantime to support my family. My wife happened to be working at a bank and encouraged me to apply, and that started a journey into commercial banking and finance. The doors opened up over the years, I was constantly growing, learning and loving what I did. I joined REDCO as a board member about 16 years ago, and ultimately became its president about 9 years ago. 

How did serving in the military prepare you for opening and running your business? 

There are so many things that I learned in the military that prepared me for life personally and professionally.  That list is long but, ultimately, I think I learned that details matter, that having focus and a plan is critical, and that solving problems sometimes requires that you close the door, put the coffee pot on, and resolve yourself and your team to getting the job done. Lastly, I think forming, nurturing and supporting your team is vitally important and takes constant care and leadership. 

What services does your business provide? 

We facilitate the Small Business Administration’s 504 Program throughout Virginia, DC and Maryland. Effectively, this program is for small businesses who are looking to buy or construct their own building, and through the 504 Program these businesses can obtain a commercial mortgage at below-market fixed interest rates with less many down than available through conventional commercial mortgage lenders. It’s a phenomenal program! 

We also seek to invest our time and resources in supporting other small business programs. For example, we had a small role in helping Fredericksburg EDA get its  InvestFXBG program off the ground. We continue to provide underwriting support for that program, and for the city’s business applicants seeking small loans, and occasionally grants. 

What is your favorite part of your business? 

I have two favorite parts. First, I really enjoy being part of a small business’s growth through the 504 Program, and we recognize that their ability to own their own space vs. leasing is one of the biggest investments that they’ll make for themselves, and we’re very proud, and grateful, to be part of that. I think every member of our staff shares that feeling. Second, I really enjoy the challenges and process of building a business and, equally important, building and supporting a team. For me these two things bring great meaning and satisfaction to my professional life. 

What motivates you? 

Nothing beats the start of a new day and all of its possibilities! 

What is the most valuable piece of advice you have ever received?  From who? 

For me, the most valuable lesson wasn’t’ from what someone told me, but what they showed me. I credit my grandfather for raising me with strong values. He was a man of very few words, told few stories, but was always grinding it out, even in retirement. I was his shadow (whether he liked it or not), and I tried to absorb everything from this man who I viewed as larger than life. Through him,  I learned to listen more thank I talk, to have a strong worth ethic, and to stay disciplined and always be willing to learn something new. 

What is one life lesson that you think everyone should know? 

Whether in your personal life or professional life, the way you act and the words that come out of your mouth – that is, your influence - can have a profound impact on someone’s life, for better or worse. People are imperfect, and plans and processes that seem great on paper often become imperfect in execution. You must always lead with empathy and learn how to navigate the imperfection of things. You can be both mission- and people- oriented at the same time. 

For what in your life do you feel most grateful? 

No doubt, I’m grateful to have the support and family that I have. I come from what was a very volatile, and sometimes violent, home as a child, and my path to understanding and healing started with the lessons learned from my grandfather and, before that, from the church which taught me how to forgive. Some days I wonder how I got to where I am, with all of it successes and with a wonderful family of my own, but the profound gratitude I feel for my life today is never lost on me. 

Where are you from originally? 

I was actually born at Mary Washington Hospital, shortly after the Civil War (so my kids may say), but since my dad was in the Navy, I moved 9 times before I hit high school. I found my way back to Fredericksburg in 2002 and love it here!

Why Fredericksburg, VA? 

Honestly, I was living in Northern Virginia and wanted to escape all of that traffic, and living a little farther south was affordable as I was early in my career, and I loved the more rural feel. Over the years, although many parts of the area have grown exponentially, along with the traffic, I just love this area and all that it offers. The fact that my office is in the heart of downtown Fredericksburg is a big bonus. I love living here, and I love having my office here!

You will find Joe at 710 Princess Anne St., Suite 2.  Visit the REDCO website for more information on programs