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Portland District Office Success Stories

Portland District Office Success Stories

Small Business Achieves Growth with 504 Loan

Drew acquired working knowledge and business savvy while attending high school and college working in his father's business, Eugene Tile Company. After college, he was asked by his father and brother to go into business with them, and they opened a tile distribution warehouse and retail store. He continued with the family owned business for another three years. After discussing the idea in-depth with his wife and other people, Drew decided to start his own business.

Drew established Intrepid International in 1993, operating from his home. For three years, Drew worked as a sole proprietor establishing a strong customer and supplier base. Drew's knowledge and experience in the industry allowed him to build an excellent reputation within his field. Drew has taken his small home based business to a company that had revenues in excess of $6,000,000 last year and is on target to reach $7,000,000 by this year-end. His profits have grown to an impressive $700,000 for the year ended 12/31/02. Intrepid has grown from a small two-employee company (Drew and his wife, Leslie) to a current staff of 20 in ten short years.
In 1996, Drew incorporated and established Intrepid International, Inc. d.b.a. Intrepid Marble & Granite. At that time, he established a banking relationship with Key Bank. He opened his company account with a check for $300,000, which represented his entire working capital fund. While working capital was limited his ideas, drive and love of his business were not. He immediately opened a small office, showroom and warehouse facility and Intrepid International, Inc. was well on its way. He turned his focus to natural stone at that time, discontinuing ceramic tile sales. He continued to promote the sale of slab material to the remodel and cabinet industries. Eventually the company moved into a larger facility, leasing a total of 17,000 square feet, which included warehouse space for his ever-increasing inventory of marble and natural stone products. Drew was unable to lease all the space he needed in one building and had to work around having two leased facilities. It soon became apparent that even this amount of space would not be large enough to meet the growing demand for marble and stone, and Drew began to look at building sites to purchase.
Between the fall of 2001 and the summer of 2002, yet another milestone was reached by Intrepid. They purchased and completed the remodeling of a 30,000 square foot building, located in inner Southeast Portland. The building houses both the offices and warehouse space. Key Bank provided the funding for both the purchase of the building and the refurbishing via a SBA 504 loan.
While growing and diversifying his company, Drew remains active in his community. During the past year, he assisted his local parish in the construction of a new church. He participates in Cancer Society of America, Doernbecher Children's Hospital and Kids Soccer programs. He is an active member of the Homebuilders Association, Remodelers of Oregon Association and National Association of Credit Manager. He is a very involved family man with his wife and four children.