Success Stories: Lending
FLS Energy, Inc. is a rapidly growing designer and installer of solar thermal (hot water heating) and solar photovoltaic (electric generation) systems for residential and commercial customers. Building designer Hardy LeGwin together with Dale Freudenberger, a general contractor, and Michael Shore, an engineer, incorporated FLS Energy in the spring of 2006 to “make solar energy mainstream sooner rather than later.” In 2008 FLS' accelerating growth led it to seek financing from Mountain BizWorks. FLS later borrowed from Natural Capital Investment Fund and eventually leveraged traditional bank loans to continue growing. FLS grew from less than 10 employees to 75 employees over a 4-year period and increased sales by 200% in 2010.
After experimenting with making tempeh at home, Sarah Yancey and Chad Oliphant started Smiling Hara Tempeh in October 2009. Using skills they learned at Mountain Bizworks (through the Foundations and Financial Tools courses) and soy beans from a local farmer in Old Fort, NC, they soon started making and selling larger quantities at farmer’s markets and to restaurants. In 2011, they came to Mountain BizWorks for a loan to buy materials in bulk and to put the money saved from this into moving the business forward. As a result, their business is growing rapidly with product available at 32 local restaurants, 6 local grocery stores including Earth Fare and Whole Foods (always located in the freezer section!). Smiling Hara is positioned for rapid growth in the retail grocery segment across the region.
After working for years in a struggling Latino bakery in Asheville, Luis Soto, along with his wife Maria, acquired the bakery in 2010 and renamed it Los Nenes. With coaching from Mountain BizWorks, they developed a business plan and learned how to analyze cash flow. In 2011, the Sotos came back to Mountain BizWorks for a loan to purchase the butcher/grocery store adjacent to Los Nenes – La Piedrita, a well-known establishment in the Latino community. The owners see an opportunity to build on the existing clientele by better coordinating the offerings of the two stores. With this new business, they are poised to find a permanent foothold in the middle class and become models for the Latino small business community.
Talk to our lenders about your small business loan needs:
Brian Griffin, Chief Credit Officer
828-253-2834 ext. 16; brian@mountainbizworks.org
Patrick Doran, Small Business Lender
828-253-2834, ext. 25; patrick@mountainbizworks.org
Equal Opportunity Lender / Agency
