You are here
Expoquip Inc. Does some Heavy Lifting
Knoxville ,Tenn.-- Jorge Sanabria began his international heavy equipment trading firm in 1998, and has now grown into a successful small business with full time staff of technicians and equipment consultants serving customers locally, nationally and internationally in 34 countries. The firm provides solutions and assistance to private sector, government, and international customers in the construction, earth moving, and mining industries as well as on highway solutions for parts, repair and maintenance of medium to heavy duty vehicles.
Expoquip includes a domestic sales department, an international sales department, and a government division--which includes equipment sales, repair and service, a logistics department, warehouse facilities and an accounting department.
In the early days of Expoquip, Jorge Sanabria took on a very heavy workload in order to grow his firm. “I worked by myself for the first several months, putting in as many as 18 hours a day, including weekends, but I was determined to grow my business--during the first year of business our average monthly sales were $10,000 with an average annual sales revenue of $120,000,” he recalls.
Sanabria notes that as a newcomer to the heavy equipment industry, his firm had to prove itself as a dependable and reliable vendor.
Expoquip joined SBA's 8-a business development program. In order to help small, disadvantaged businesses compete in the marketplace, the SBA created the 8(a) Business Development Program. The 8(a) Business Development Program is a business assistance program for small disadvantaged businesses. The 8(a) Program offers a broad scope of assistance to firms that are owned and controlled at least 51% by socially and economically disadvantaged individuals.
SBA's 8(a) Program is an essential instrument for helping socially and economically disadvantaged entrepreneurs gain access to the economic mainstream of American society. The program helps thousands of aspiring entrepreneurs to gain a foothold in government contracting. Participation in the program is divided into two phases over nine years: a four-year developmental stage and a five-year transition stage. Expoquip is in the four-year developmental phase.
“This certification has opened doors for us within the local, state and federal governments--we are currently supplying heavy equipment parts at all three levels,” says Sanabria.
“Today our profits continue to rise in spite of recent downfalls in the economy--our average monthly sales now reach $380,000 for annual sales revenue of $4.5 million,” he adds.
The SBA was established in 1953 to help people get in business, stay in business and grow their businesses. For more information on SBA loans and programs--including the 8-a Business Development Program and SBA’s International Trade Loan Program, please visit the SBA website, www.sba.gov or contact the Tennessee SBA District Office, (615) 736-5881, www.sba.gov/tn.