Veteran-Led Manufacturing Company Scales Advanced Production with SBA Support
With SBA-backed financing and resource partners, a New York-based additive manufacturing company is creating long-term opportunities for veterans.
Founded in 2019, Vetted Tech is a New York-based additive manufacturing company specializing in stainless steel and nickel alloy components for aerospace, defense, and energy applications. Built with a mission to support veterans, the company is focused on growing into a business that will ultimately be owned by the employees who help build it.
Start with a mission
After a 30-year career as President and Chief Operating Officer of an industrial machinery manufacturing company, Mike Mowins saw a growing need in advanced manufacturing, particularly within aerospace supply chains.
When he retired in 2019, Mowins began exploring opportunities to build a new business, with a goal to create a company staffed by veterans that could one day transition ownership to them.
"I started Vetted Tech with the goal of building a business that would grow to a certain level, be staffed by veterans, and then ultimately be owned by them." - Mike Mowins
The company officially launched at the end of 2019 and began operations in early 2020, just as the COVID-19 pandemic began. Despite the timing, there was a strong demand for additive manufacturing as a supply chain solution.
Access to capital and SBA support
Mowins initially invested his own savings to help launch the business before turning to SBA-backed financing to support growth.
Through partnerships with KeyBank and SBA, the company utilized both 7(a) and 504 loan programs to fund equipment and support growth. They also worked closely with their local Small Business Development Center (SBDC) and participated in the SBA THRIVE program.
"We've worked closely with the SBA and our local SBDC, and they've played a big role in helping us find the resources and funding we needed to grow." - Mike Mowins
Additionally, partnerships with manufacturing extension programs and local resource organizations helped the company build out its facility and achieve key certifications, including aerospace quality standards.
Results of SBA support
Since launching, Vetted Tech has grown into a specialized manufacturer serving clients across the Department of War, Department of Energy, and national laboratories.
The company has reached over $1 million in annual revenue and continues to grow its capabilities while maintaining a focused hiring strategy centered on veterans.
Vetted Tech produces high-precision parts with tight tolerances for customers across defense, energy, and aerospace.
Final thoughts
Looking ahead, the company is focused on expanding operations and increasing hiring to build toward long-term employee ownership.
The goal remains to grow the business to a sustainable level and ultimately transition ownership to the veterans who help run it.
Learn more about SBA-backed loans and your local Small Business Development Center at www.sba.gov.