World Class Equipment Company is a Macomb, Michigan manufacturer of conveyors, robotic work cells, custom automation, robotic end-of-arm-tooling, automatic and manual assembly stations, fully automated weld cells, fixtures and more. The company was formed in 2012 by co-owners Mark Matheson, President, and Jeffrey Hinsperger, Vice President in order to meet the demands of turnkey automation solutions. With over 20 years of experience, World Class Equipment Company is a one stop shop for fully automated systems in the automotive, oil & gas, transportation and aerospace industries.
In 2014, Matheson and Hinsperger were strategizing how to finance export sales worth $2,500,000 from companies in Brazil, China, and Mexico. That’s when they were approached by Kyle Anne Sasena, an international product specialist and loan officer at Level One Bank. The community-based financial institution was a relatively new player in the world of small business finance, but it had a seasoned staff of small business bankers who knew the value of the SBA loan guaranty program.
Sasena reviewed the owners’ request and knew that the deal would work if she structured it with an SBA export working capital line of credit. She called in SBA Regional Manager John O’Gara to help with the project. O’Gara is a trade finance specialist who has worked on numerous export transactions during his career at the SBA’s U.S. Export Assistance Center. O’Gara conducted a site visit to World Class Equipment Company to meet with the owners and discuss their deal.
The partnership among the business owners, the lender, and the SBA resulted in a $1 million revolving line of credit, guaranteed 90% by the SBA, to support pre-shipment working capital needs. Level One was extremely pleased with the support and knowledge that O’Gara provided and Matheson and Hinsperger successfully completed the export transactions. They look forward to growing their company by increasing their international business.