Hispanic Heritage Month
Small Business Benefits From SBA Programs
INDIANAPOLIS-Camacho Equipment & Janitorial Supply Inc. started as a result of a man and his dream. Jesse Camacho formed his company with the goal of becoming a successful entrepreneur. With the help of the U.S. Small Business Administration’s (SBA) 8(a) Business Development Program and 7(a) loan guaranty he is growing his business.
Camacho opened the business in 2003, operating out of his home and garage. As his business outgrew his home he built a 12,000 square foot business facility. With the new facility, Camacho was now able to run operations more professionally and efficiently.
Camacho secured an SBA 7(a) loan for $75,000 from Regions Bank. The loan was used to purchase inventory, equipment and working capital. His new facility allowed him greater storage space and to take advantage of better pricing opportunities by buying in larger quantities.
Through the 8(a) Program, the company and employees have benefited from training provided by the SBA to help develop business skills in both management and operation. Camacho has also taken advantage of 8(a) certification benefits to be awarded federal contracts. The most recent award was in March of 2012 from GSA for $700,000 for janitorial related services. The company plans on adding 18 more employees in the next month or so as this is directly related to the 8(a) program. “The 8(a) program has helped us steer clear of many of the obstacles that face small businesses. We’ve received guidance concerning human resource issues, taxes, workman’s comp and valuable assistance in obtaining government contracts,” said Camacho.
The company first sold only building maintenance supplies and equipment. They have since expanded services and now have maintenance, commercial floor care and commercial cleaning departments. The company currently has 26 full-time employees and is headquartered in Greenfield, IN. In February 2013, Camacho Equipment & Janitorial Supply will be celebrating their 10 year anniversary. The company services the entire state of Indiana with anticipation of expanding to neighboring states like Michigan and Kentucky.
The SBA 8(a) Business Development Program is a nine year program established to assist eligible socially and economically disadvantaged individuals develop and grow their business. To find out more about this program or the SBA Guaranty Loan Programs contact the SBA Indiana District Office (317) 226-7272 or visit www.sba.gov/in.