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Small Business Owner Receives 504 Loan, Moves into Larger Facility
Wolfden Products began about five years ago when Alex Wolford decided he wanted to have control of his own destiny. Wolfden Products makes lightweight replacement carbon fiber composite parts to replace heavier steel parts.
Among other items, Wolfden Products makes replacement parts for leading race car teams throughout the United States and Canada. The company also creates and helps design custom molds and patterns to meet customers' needs.
Wolfden Products currently has eight employees and as a result of an SBA 504 loan they were able to move to a larger facility.
When asked how his business affected his life and what advice he would give someone starting a business Wolford said, "Your business becomes a major portion of your life, and you need to learn to balance your business life with your personal life. Be prepared for the long haul, it doesn't happen overnight. Make sure you're an authority on both your business idea and the industry in which you hope to make your mark. The key to really gaining respect is doing what you say you'll do and providing the absolute best product or service you can."
He added, "When something seems impossible to accomplish, I try to think of ways to get it done. I also try to reinvest profits back to the business rather than taking them for myself. In this way, I think the overall business will benefit. You also must have the discipline to spend the time needed to get all the work done."