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Success Stories

Success Stories

Small Business Owner Receives SBA Loan to Purchase Equipment

The SBA provided Conveyor Metal Works with the capital to purchase the equipment required to help manufacture its products. The company, started in 2000 by Scott Wolfe, makes a full line of gravity roller conveyors, powered roller conveyors, and powered belt conveyors.

With SBA assistance, the company has expanded its product offering and has established a steady growth pattern. Conveyor Metal Works employs 20 people.

Wolfe said anyone thinking about starting a business should, "Always plan for the worst" and look at tomorrow instead of today".

"This article and the accompanying photograph do not constitute or imply an endorsement by SBA of any opinions, products or services of any private individual or entity."

 

Small Business Owner Receives SBA Loan for Working Capital

PeakEnergy LLC was started by Steve Elsea in May 2000 to help utility companies and other energy providers use existing generators at private businesses during peak demand periods.

This business benefits utility companies that would have had to either build more generation and transmission capacity or pay a higher price for additional energy during peak demand periods. It also benefits the owners of the backup generators because they receive a credit for the usage of their generators.

Elsea has spent his entire 27 year career working in or with the electric utility industry. He was able to start his business with the help of a grant from American Public Power Association and an SBA guaranteed working capital loan.

The SBA loan was used to develop the proprietary Internet-based software and to purchase the initial hardware that interfaces with the generators. This hardware-software combination comprises the system which enables energy service... Read More

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... Read More

Music Love Created an Entrepreneur

With the help of a SBA loan, Bill Foley purchased a community landmark: the German Village Music Haus.

The business has been in existence for more than half a century, and Bill worked there as a luthiere (a person who works on stringed instruments) for 26 years before purchasing the German Village Music Haus.

The company has an international reputation for luthiery and amplifier repair, and carries high-end instruments for the discriminating player, as well as quality affordable instruments for the beginning player. Personalized instruction is also available to the store's customers.

Currently, the business has three part-time employees and six teachers.

"Your business is only as good as the people working there. Get the very best people," Foley advises other business professionals. He adds that there are three words that lead to success: "Work, work, and work."

"This article and the accompanying photograph do not constitute or... Read More

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