Success Stories

Dreams Do Come True With a Little Help From SBA

Pete Morones, a bilingual clinical psychologist, didn’t have to think twice about buying a building to house his office. It made sense to purchase a building for his practice rather than continuing to pay rent. Morones now owns his own office building and rents out space to others. Most people aspire to own a building for the same reason they aspire to own a home; they are more in control of the use and the cost. Evergreen Business Capital helped Morones buy his own real estate through the Small Business Administration's 504 loan program. “Morones needed $370,000 to buy the building — at a time when the economy was tanking and banks just didn't want to lend," recalls Evergreen Senior Loan Officer Lori Milton.

Morones is a business banking client with Bank of America. Lori Milton asked the bank to loan Morones the money for his building. The bank funded Morones $250,000, Evergreen funded $83,000 and Morones came up with the rest.

Proceeds from 504 loans must... Read More

Small Business Owner Exports Earth-friendly Pesticide

Most pest control programs have a problem: They put too much of a particular chemical into the environment, and much of it is spread without being effective. Residues can be dangerous to humans and toxic for animals. The runoff can become problematic for water quality. The solution? Integrated pest management (IPM), a combination of chemical, biological, and cultivation techniques, minimizing negative effects.

A company based in Portland, Oregon, which has taken its name from this method, IPM Tech, Inc. has created just such a line of products. This new method is easy to use, effective, and environmentally benign. Its use is growing in agriculture and forestry. It has also attracted attention abroad, and exports are spreading the technology to Australia, South Africa, and most recently Belgium.

"These innovative products will sell themselves," said Philip Kirsch, president and founder of IPM Tech, Inc. "Their potency, cost-effectiveness, and environmental benefits... Read More

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... Read More

Jodi and Dan Bittick purchased One Hour Martinizing in Medford in 1998. The operation does dry cleaning, repairs, alterations, preservation and laundry. Both Jodi and Dan worked for big business in Utah and wanted to own their own business. Dry-cleaning was a natural choice since Jodi's grandfather and her father owned and operated a dry cleaning business. Jodi and her siblings often helped with the family business.

In the four years as owners of the Medford store, the Bitticks had increased their market and wanted to expand by purchasing a new, larger capacity washer and dryer. The owners couldn't get a bank loan, because the loan request was too small. Roger Harding of the Small Business Development Center (SBDC) in Grants Pass, and their instructor in the Rogue Community College Small Business Management Program, referred them to Dennis Davis, the Loan Fund Manager at Southern Oregon Women’s Access to Credit (SOWAC) Business Training and Lending in Medford, Oregon... Read More

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