Praful Patel, Ph.D, President and CEO of National Biochemicals Corp. is a true American success story. With hard work, intelligence, and skill – as well as SBA loan programs -- he has built a thriving business. Originally from India, Dr. Patel immigrated to the United States in 1987. At first he worked for other people, consulting for biochemical and diagnostic companies, but in 1992 he made the decision to create a business of his own. His start was very modest – he opened National Biochemicals in his garage. “My first order was for 25 kilograms of product,” Dr. Patel recalls, “I didn’t even have a scale to weigh it on.” Today, National Biochemicals manufactures and supplies raw materials to the life science industry. Its clients include biopharmaceutical companies, wholesale distributors, and other providers of high purity biochemical based products. The company’s customers also include teaching institutions, and it is even involved in catching criminals through DNA... Read More
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Peoples Services Inc., a third party provider of transportation, warehouse management, packaging and distribution services, is celebrating its 100th year, tracing its roots to 1914 when it operated in Massillon, Ohio as a storage and furniture moving company. The company now has a presence in Ohio, West Virginia, Virginia, North Carolina, South Carolina, and Michigan, and this family-owned company is thriving.
"There are three generations of hard work that have gone into making what Peoples Services is today, and our success is based on some of the core values that were established when my grandfather started Sibila Trucking,” Doug Sibila, the company's president and chief executive officer, states.
Growth and Stability through the Recession and Beyond with the SBA’s Help
In 2010 Peoples undertook a strategy which ultimately assisted it in growing through the recession into a position stronger than ever before. The SBA provided financing to... Read More
In 2006 Carolyn Cahlik and Tiffany Tutin co-founded Coast to Coast Equipment with just two employees – themselves. Having only $200 at the beginning, they operated the company out of their own home. Selling used high reach construction equipment (such as cranes, boom lifts and reach forklifts), the company began to capture a niche market in northeastern Ohio. However, the recession brought difficulties for most industries, and the construction business was especially hard-hit. By 2008, the entrepreneurs saw a disturbing drop in the market value of Coast to Coast’s inventory, while its bank ended its lending to middle-market companies.
Carolyn and Tiffany decided to stabilize the business by diversification, and founded Ohio High Reach LLC, a wholly-owned subsidiary, which rents construction equipment. “To survive we tend to adapt and seize new opportunities,” noted Tiffany. “A local bank and the SBA saw the strength of our company and our vision.” The company developed a new... Read More
In 1996, John Wong, a Cleveland, Ohio based biologist and chemical engineer, founded TLC Products to answer the need for live, non-toxic, environmentally beneficial bacterial products for water purification. In partnership with Richelle Bell, co-owner, the company has grown from total sales of $100,000 to 2012 sales of $860,000. Now with ten employees, TLC sells world-wide, with the support of the SBA Export Express Program.
From its inception until 2007, TLC Products was similar to its competitors and offered an expansive product line, using specialty products to treat specific water quality issues. The company served garden centers, pet stores and hardware stores. Throughout this period, TLC Products showed steady, manageable growth, while leasing a five-thousand square foot facility in Westlake, Ohio.
However, as the economic downturn of 2008 and 2009 hit, TLC’s primary outlets were seeking to reduce inventory, carrying costs, and improve their cash flows. ... Read More