Growth Capital has helped many businesses grow and improve over the years. Here’s a look at one such story, which you can find in our case studies section.
About the business:
Auto Bolt Company makes custom fasteners for industrial purposes, and has a wide range of different customers. Since its founding more than 65 years ago, the business has had the opportunity to expand, make important contacts and acquire new facilities. And Growth Capital was able to help them do exactly that with an Ohio SBA loan.
The focus on specification means that the Cleveland-based Auto Bolt has to keep its production current. When the company needed a new facility, Growth Capital was there to help provide multiple SBA funds, all contributing to the same project. Auto Bolt would go on to win our Economic Development achievement, as a business that’s achieved a great deal over the past few years.
We also helped Auto Bolt acquire necessary equipment through SBA 504 loans, putting the company in a great place to succeed and do right by its clients in the future.
“When the company needed a new facility, Growth Capital was there.”
About the loan program:
Auto Bolt’s story may encourage other Ohio businesses to use the 504 loans as an important resource. This program has enormous flexibility involved, and can work for new or old businesses.
Depending on the type of project you need financing for, the loan can apply to property or equipment, and could be used to finance renovations as well as the purchase of new land.
In all cases, the right guidance will lead you to use these programs the best and prepare for expansions or other developments. If it takes multiple loans, then securing the first one could set an obvious precedent for the rest. Contact us to learn more.