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Premier Tooling & Manufacturing, Inc.

SBA 100

Premier Tooling & Manufacturing, Inc.

Premier Tooling & Manufacturing, Inc.

A 1200 ton press at Premier Tooling & Manufacturing in Peosta, Iowa, used to stamp out metal parts.

Company Name:
Premier Tooling & Manufacturing, Inc.
Location:
Peosta, IA

Jan Heister and her husband Jim started Premier Tooling in June 1990 with 9 employees in a 5440 square foot facility. Today, Premier employs over 143 people in a 160,000 square foot facility. Sales have grown from $1.7 million in 1994 to $13.5 million in 2009. 

Premier Tooling has worked with ECIA, an SBA Certified Development Company, to meet their financing needs. Their first SBA 504 loan was approved in 1995 for $133,000. Additional SBA loans in 1996, 1999 and 2001 enabled the company to add additional equipment and infrastructure. Most recently, the business used a Recovery Act loan for more than $1 million in 2009 for additional equipment and working capital. This loan saved Premier $27,562.50 on fees.  

What started out as a small Tool and Die business has evolved into a major Metal Stamping house to compliment the Tool and Die business. Premier offers full service to its customers from the designing and building of the tools to make the product, to stamping out the product, and the maintenance of the tool.

As the economy has improved, the business has resumed hiring. The business has been using a temporary service since late 2009 to add staff as needed, and has been converting some of these to permanent employees as the company sees the economy stabilizing. Premier is on target to have sales near $20 million for 2010. 

 “With the backing of the SBA loan programs to expand and acquire the necessary facilities and equipment, and to hire more employees, we are therefore able to meet the requirements of our customers,” says Premier Tooling President Jan Heister. 

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