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Success Stories

Seattle Non-profit Retains Staff and Continues Serving Foster Youth Thanks to SBA PPP Loan

In 1988, a group of Seattle-based social workers founded a nonprofit organization named Treehouse on the belief that kids in foster care deserve a community committed to their success. Funded by community bake sales and car washes, they started small — purchasing the little things such as birthday presents and school supplies. By 2020 Treehouse had grown from a few dedicated social workers to a fulltime staff of more than 100 employees and a network of 3,000 volunteers serving more than 8,000 youth in foster care across Washington state. Treehouse relies on the generosity of the community and a limited number of state contracts to fund their programs which today focus on all aspects of the academic and economic success of the youth they serve.

March 18 was set to be Treehouse’s largest annual fundraiser which traditionally raises $1 million dollars to help fund their... Read More

Rural Family-Owned Semi-truck Repair Company Expands Thanks to Business Advising 

David Ruelas developed a strong work ethic early in life. As the son of Mexican immigrants, he worked alongside his family in the agricultural fields of eastern Washington before and after school and on weekends. While other kids went on summer or winter break, the Ruelas family went back to work for various farmers seven days a week. After graduating from high school, Ruelas apprenticed with a semi-truck mechanic and became a skilled mechanic. He found work at a Yakima repair shop, but soon tired of the 45-minute commute from Sunnyside to Yakima each day. Seeing a need for mobile repair services for semi-trucks in the rural areas surrounding Yakima, he started Fast Mobile Service Truck Repair as a one-man, one-truck service. He leased a 5,400 square-foot shop in 2011. As business continued to grow, Ruelas added employees and family members to the team, including father Gerardo as a... Read More

Seattle Fencing Company Doubles Sales with SBA-Backed Loans

After spending 32 years working in another industry, Rick Koch decided it was time to work for himself. In 2008 he purchased All City Fence, an established Seattle-based fence manufacturer and installation company. A few years after purchasing the company with a traditional business loan, Koch wanted to refinance and started to research his options. He was also interested in purchasing his own land and building as opposed to continuing to lease.

Solution

In 2011 Koch used the SBA Guarantee Loan program to refinance, after receiving a recommendation from Key Bank. Since 2011, Koch has taken out five additional SBA-backed loans, including an SBA-guaranteed revolving line of credit. He is currently looking at using the SBA 504 Loan Program to purchase and buildout two new office locations.

Impact

Thanks to the SBA loans, Koch has grown annual revenues by 115% from 2011 to 2019 – more... Read More

From Buildings to Barley: Constructing Success Through Brewing

Rich Nesheim, a Woodinville, Washington native, was working in Arizona in the construction industry in 2007. He found himself unemployed in 2008 due to the halt in the industry as part of the Great Recession of 2008. His brother, Raymond, found himself in the same situation, but in Washington State. Rich packed his life up and moved home, and the two brainstormed a solution to their employment problem: open a brewery. 

Solution

Pulling money from 401k’s, borrowing from family members, and utilizing the 7(a) Loan program offered by the U.S. Small Business Administration, the two brothers started Triplehorn Brewing in 2012. They opened their doors with three brewing tanks and barely enough money in the bank to cover the first month’s expenses. The business grew quickly over the first three years, seeing 35% growth each year.

Impact

In 2016, they obtained another 7(a) loan for a... Read More

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