Manufacturer Survives Natural Disaster, Increases Profit

“When I was introduced to my clients, a husband and wife team, it started as one flood survivor helping another flood survivor. The more I learned of my client’s operations, the more similar it seemed to the family business I own with my wife. We both lost significant money in the flood and had to relocate our businesses to resume operations. We both had loyal customers that counted on us, and we both needed to resume operations as soon as possible after the flood.

Over the course of meeting weekly over 18 months, I concluded that we are also very sharp, very honest and hardworking owners. We both had built a nice sized business, wisdom beyond our years, and a strong passion for our businesses.

I rode the emotional roller coaster with my clients - from fighting through the debt to thoughts of closing down and walking away. When you worry about making payroll each pay period, it wears on you personally and professionally. Working the first 9 months together in survival mode and the last 9 months in growth mode, I worked with the clients to help position their business for the long term future - restructured debt, managed overtime, negotiated favorable payment terms with vendors, met with banks, insurance companies and payroll companies.

These efforts have increased the company’s profitability from less than $8,000 last year to a projected profit of $140,000+ this year. All the while, the owners are now better compensated and no longer worry about being able to pay bills on time."

Scott Loggins
East Central Iowa SCORE (#736)
Cedar Rapids, IA