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Success Stories

Nashville Small Business Climbs to New Heights With SBA Financing

 

Lance Brock and Drew Sloss shared a love of rock climbing and wanted to share this experience with others. Having a vision for indoor climbing as a form of fitness, Brock and Sloss opened Climb Nashville (Climb) in 2003, providing a refreshing alternative to a normal workout or simply a fun outing.  In addition to being a state of the art rock climbing facility, Climb also offers workout space, yoga, and fitness classes. Rounding out their compliment of services, Climb has programs for youth, church groups, summer camps, private parties, and schools. Brock and Sloss believe that climbing is a transformational experience for growth and the spirt of adventure.

Brock and Sloss opened the business in leased space for the first two years. In 2005, with the assistance of a U.S. Small Business Administration (SBA) 504 Loan through Mid-Cumberland Area Development Corporation (MADC), a Nashville based... Read More

SBA 504 Loan Enables Expansion and Success of Nashville Car Wash Business

 

Seeing that the Nashville car wash industry had historically provided marginal service levels, little innovation, and no new car washes in several years, Read Hauck founded Camel Express Car Wash (Camel) in 2015. When doing his initial research on starting his business, Hauck was looking for a comprehensive program that would offer educational resources for a start-up as well as a mentorship program to participate in. He found SCORE Nashville and attended every class they had to offer and took part in every educational offering that SCORE provided at that time. He connected with John Dorland who became his SCORE mentor. Hauck attributes a large portion of Camel's success as the direct result of the education that was provided by SCORE Nashville.  After seeking financial help from seventeen lenders, Hauck applied to Franklin Synergy Bank for start-up financing.  The... Read More

Veteran Owned Business Providing Gun Safety Training and Recreational Shooting

Templar Shooting Sports

1101 South Jackson Street

Tullahoma, TN 37388

 

12 employees

 

Situation

In 2016, Richard G. and Natasha Brooks started Templar Shooting Sports (Templar). The business provides an indoor shooting range, gun sales, and firearms training and education. In 2016, the Brooks needed financial assistance to start the business.

Solution: How the SBA helped

Through a recommendation of a local economic developer, Mr. Brooks came to South Central Tennessee Development, an SBA 504 Certified Development Company (CDC). The SBA approved a $350,000 CDC loan to Templar. This loan enabled the business to purchase land, construct a building and purchase/install equipment.

Successful Impact/Outcome

His business increased sales from $99,000 in the first year of operation to $615,000 in year two.    Templar is planning to expand with a... Read More

InHouse Brand Group Expands with an SBA 7(a) Loan

125 Center Park Drive Drive, Suite 800

Knoxville, TN 37922

 

5 Employees

 

Situation

In 2012, Tony Smith started a graphic design business while in his junior year of college in Knoxville, Tennessee. After doing design work and contracting out his screen-print jobs to other companies, he knew it was time to expand. To expand, Mr. Smith needed his own equipment.

 

Solution: How the SBA helped

Mr. Smith reached out to his mentor, Doug Minter of the Knoxville Chamber of Commerce. Mr. Minter advised Mr. Smith to apply to the UT Federal Credit Union for a loan. UT Federal Credit Union financed a $30,000 SBA 7(a) guaranteed loan to acquire his own equipment in 2014.

 

Successful Impact/Outcome

The business is minority owned. The financial assistance has allowed the business to expand from one to 5 employees. Since obtaining the loan, the business has expanded into... Read More

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