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Case Studies
Greentree Landscaping and Design
Mauro Hernandez and his wife Sharon raised the question of how to grow their business in 1996 when their company, Greentree Landscaping and Design, sought financing to purchase a storage building on three acres of land. The purchase would provide additional room for vehicles and inventory, the ability to purchase goods in bulk and ownership of the land and office space.A client led them to Key Bank who in turn led them to Growth Capital Corp. Growth Capital connects small and medium-sized businesses with financing through government-assisted loans offering lower down payments, fixed interest rates and longer terms. The partnership was a success. Key Bank provided 50% of the financing, Growth Capital provided an SBA 504 Loan for 40% of the financing and Greentree contributed 10% equity.
Between 1996 and 1999, Greentree grew from six employees to 22 and its sales nearly quadrupled. It expanded its services to include installation of brick paver patios, walkways and retaining walls. The company is now a dealership for several large paver brick products manufacturers.
In early 2000, Greentree again sought financing for expansion when another parcel of nearby land went up for sale. Mauro and Sharon once more turned to Growth Capital and Key Bank for a loan. Their application was approved. The second expansion will create three or more new jobs, allow Greentree to store even larger quantities of plant material and grow some of their own plant materials used in the landscaping business.
"It's difficult for small business owners to get their foot in the door," said Sharon. "Without the assistance of Growth Capital Corp. and Key Bank, we might not have been where we are today. The process would have definitely been slower and more expensive."
Sharon thinks it's important to spread the word about the programs available to small business owners. "Small businesses think big financing is unattainable, but there are avenues open out there to help lead the way."
Click here for more information about Greentree Landscaping and Design.
For more information on the services of Growth Capital Corp., contact (216) 592-2233.
"Providing Creative Financing Solutions for Small Businesses"
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