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Small Business Owner Receives SBA Loan to Open Cash Flow, Plan for Growth
After seeking advice from friends who were already in the transportation business, Edward Stanton started his airport shuttle firm - A North County Coastal Sedan - in April 2002.
Prior to starting his business, Stanton was a taxi driver for five years. After years of driving for an employer, he decided he would rather work for himself. He has no regrets about the decision and enjoys the freedom of being self-employed. Stanton’s tip to others considering going into business is do your homework and don’t be afraid to ask for help.
Stanton manages his business and personal life on a day-to-day basis, dealing with any issues as they arise. Recently, he recognized a need for some additional capital to ease cash flow constraints. He solved money problems by applying for an SBA-guaranteed loan through U.S. Bank. With an approved loan of $13,000, Stanton expects to grow his business enough to purchase more vehicles and hire additional drivers over the next two years.
In addition to providing federal guaranteed loans to small businesses, SBA offers a variety of free and low-cost training workshops, counseling and consulting services to current business owners and budding entrepreneurs through such resource partners as SCORE (Senior Corps of Retired Executives), Small Business Development Centers and Women’s Business Centers. For more information on SBA loan programs and counseling and training services, please call SBA at (619) 557-7250 or visit the agency’s local Website at www.sba.gov/ca/sandiego.