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in this issue SBDC News & Information Centers Respond to Growing Concerns about Economic Conditions Bright Ideas: Energy-Saving Upgrades Pay Off for University of Scranton SBDC Client If the Weak Dollar is Hurting You, Exporting May Be the Answer Consultant Profile: Todd Dolbin Penn State SBDC Workshop Examines Business Opportunities in a Challenging Economy Small Business Institute Positions Northeastern PA Business Owners for Success Full Steam Ahead: Brookville Equipment Corporation Celebrates Long-Term Success Capitol Views: Congressman Jason Altmire University of Pittsburgh SBDC Bolsters Region's Growing Tech Community Educational Programs |
Veteran Builds Rock-Solid Business with Wilkes University SBDC Help
Since leaving the military because of a disability, Mark Beegle found he no longer had a reliable source of income to support his family as well as he would have liked. He did, however, have a great deal of experience through the military in operating heavy equipment. He also owned several acres in Sullivan County that contained an ample supply of Pennsylvania Bluestone, a material in high demand by many landscape and construction companies. Beegle saw an obvious opportunity to transition to entrepreneurship, but like many prospective business owners, required substantial funding to turn his idea into a viable enterprise as a source of income for his family. Further complicating matters was the fact that his credit had become compromised due to identity theft, and he did not have any additional funds to invest in the business himself. Still, Beegle believed the elements of his experience and property could work in his favor if he could only find the money to purchase equipment and cover operating expenses. In June of 2007, the veteran approached the Wilkes University Small Business Development Center for help. WIth SBDC guidance, Beegle was able to clean up his credit report and prepare “a superior business plan.” In addition to helping Beegle develop his business plan narrative, the SBDC provided research to add credibility to sales projections and market size. The SBDC further worked with the Veteran’s Association to guide Beegle through the financing process and attract the interest of multiple area lenders. The options enabled Beegle to choose the lenders with which he felt most comfortable, and he later secured the funding through PNC Bank and the PennCap program. MID-Life Stone Works, based in Dushore, officially opened January 9, 2008. The company quickly began making sales and exporting shipments to North Carolina and Chicago. To celebrate Beegle’s successful start, the SBDC worked with the client to organize a ribbon cutting ceremony in March which also served to promote the company’s services. Edward J. Kowalczyk, Jr., Assistant Director of the SBDC, personally delivered congratulations. |
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“Mark’s success story continues to serve as a great example of determination and how different public organizations can work together to help a client overcome obstacles to attain a goal,” he said. Kowalczyk presented the proud business owner with a letter on behalf of Governor Edward G. Rendell. “[Mark] has overcome life’s obstacles and successfully started his own business,” the Governor’s letter reads. “Together, with the dedication of Wilkes Small Business Development Center and the creativity of our entrepreneurs, like Mr. Beegle, the commonwealth’s communities are sure to remain vibrant centers of commerce.” Beegle expressed strong satisfaction with the services he was provided. “The SBDC was one of the critical factors in
me getting my business started [and] the last organization that should ever be looked at for any kind of reduced funding,
staffing or what have you,” he |
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