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Success Stories

Augusta building supply reaches for stars with SBA

By Mark D. Gibson
U.S. Small Business Administration
Georgia District Public Affairs

The 50 stars on the flag represent more than just the 50 States of the United States of America. The star also represents a standard of excellence that transcends to Star One Supplies located in Augusta, Georgia. Rufus Burdette, Star One’s owner, is no stranger to living a life of standards dedicated to excellence as a retired Army Sergeant Major with over 28 years of honorable service. "Star One signifies the level of dedication our company has to the community, our customers and a constant reminder of the spirit of entrepreneurism." Said Morgan Burdette, Rufus’ son & General Manager Star One Supplies.

As co-owner of Greene & Burdette Property management in Waynesboro Georgia, Rufus quickly recognized challenges and shortfalls surrounding the procurement of supplies for the business, and the idea of Star One Supplies to meet those challenges was born.

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Advanced Metal Components Uses SBA 7(a) Loan To Cut Its Debt Costs, and Save Rural Georgia Jobs

 

When the recession hit Advanced Metal Components (AMC) Inc. three years ago, the company and its 130 employees in Swainsboro had a backlog of work to carry them forward for another 12 months or better.

However, Doug Brown, who took over the family-owned business in 1999, realized he would soon need new financing for fresh working capital, and to take the business to a new level of production to handle orders after the economy started to improve. 

Brown, a graduate of Georgia Tech with a passion for engineering, would turn to Spivey State Bank        in Swainsboro for an SBA guaranteed loan of $3.2 million. This loan, under the SBA’s 7(a) program, closed in March, 2011. It allowed Brown’s company to cut its debt service on several existing bank loans by half, thereby freeing up vital cash flow while providing $250,000 in new working capital to help weather the recession. At the same time, the loan saved dozens of good-paying jobs in rural Emanuel County,... Read More

Fuego Mundo Restaurant gets First SBA Guaranteed Loan In Georgia, following Enactment of new American Recovery Act

—Provision on Eliminated Fees Saves Borrower some $12,000—

The Fuego Mundo Restaurant became the first small business in Georgia to receive an SBA guaranteed loan under the American Recovery and Reinvestment Act with a 90 percent guarantee and no fees.  The federal law provides $730 million to SBA and makes changes to the agency’s lending and investment programs so the agency can reach more small businesses that need help.

“We were already excited at the prospect of starting our new business concept,”said Masha Hleap-Hershkovitz, owner. “But with the benefits of this new SBA program to strengthen our business, we are even more optimistic at the prospects of success.”

Ms. Hershkovitz used a $550,000 SBA 7(a) loan from Signature Bank of Georgia to help finance her new, South American style wood-fire grill. It opened on June 5 at The Prado, a retail complex in Sandy Springs. She said the elimination of the loan fees totaled about $12,000, money she can... Read More

—Firm has Received six 8(a) Contracts for $9.8 Million—

Like many entrepreneurs, Sanquinetta Dover paid some dues before she returned to Atlanta in 1996 to start DoverStaffing Inc., a professional placement and project management firm that has grown to over 200 employees.

After graduating from Spelman College in Atlanta with a degree in Economics, she spent six years with the Federal Deposit Insurance Corporation (FDIC) in its bank liquidation division in Chicago and Midland, Texas. She later held several corporate sales positions in Chicago and spent over two years running  her first small business, a wood pallet manufacturing firm in the Windy City.  

Dover says she first learned about the SBA’s 8(a) Business Development program in Chicago during the operation of her first small business. Her knowledge of the program would pay large dividends after DoverStaffing was certified as an 8(a) and Small Disadvantaged Business in 2003. 

Since it... Read More

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