Success Stories
Fred Galten, G&S Milling
Willits
“When you put something together and make a profit, and provide jobs for people . . .It’s fulfilling,” says Fred Galton, owner of G&S Milling. Fred used his loan from AEDC to build a new facility in 2005 which features an office, a millwright shop, loading area, and forklift repair shop. Fred’s new facility has made his business more efficient, while also just being a nicer place for vendors and employees. G&S Milling offers custom milling services, from planing and kiln drying lumber, to providing unloading/reloading services for wholesalers and acting as a storage and distribution center. They currently have 25 employees.
Mary Keehn, Cypress Grove Chevre
Arcata
“AEDC allowed us to grow the way we were already growing, because you can’t do it without money,” Mary Keehn says. Cypress Grove received an SBA 504 loan in 2004 from AEDC to purchase property and build a new facility. Prior to building their new facility, Cypress Grove had eighteen employees. Today, they provide employment for 50 workers from entry-level jobs at above minimum wage, up to management level positions. Cypress Grove could not do what they are doing today, says Keehn, without the funding for the new facility.
Cypress Grove Chevre had produced cheese in McKinleyville for many years and by 2004 they were ready to expand. “Literally, you had to say excuse me four times to walk across the building,” said owner Mary Keehn of her previous facility.
Despite their positive growth record, the cost of a new facility exceeded what a traditional lender would provide to Cypress Grove. Utilizing a 504 loan, which involves AEDC partnering with a bank to lend government guaranteed funds, was a good financing solution.
Cypress Grove Chevre’s success continues to grow. Their Humboldt Fog chevre, from the Cypress Grove Collection, recently received the prestigious “Outstanding Cheese or Dairy Product” award at the 2007 Fancy Food Show in New York City.
Jason and Joye Silva, Street, Track and Trail
Fort Bragg
Avid motorcycle riders, Jason and his wife Joye bought Street, Track & Trail three years ago, selling and repairing dirt bikes, street bikes, ATV’s and selling clothing and accessories. Jason said before he owned the business, he spent time at the store tinkering with the old business owner. When the business was available to purchase, Jason said he and his wife wanted it to supplement his income as a logging mechanic. In the three years that they have owned the business, the clientele has grown significantly, and it is now his full-time job. Joye said it was through AEDC that they were able to obtain the financial backing for they business. They were not eligible for a conventional loan or SBA loan from a bank, and Joye said they are very happy they had the opportunity to purchase the business. “It’s been very rewarding,” she said.
Paul Lubitz, Holly Yashi
Arcata
It took confidence to secure the funding to triple the size of Holly Yashi’s 5,000 square foot building, said Paul Lubitz, Holly Yashi owner. It was because of AEDC’s SBA 504 Loan with a fixed interest rate that they were willing to take that step. Holly Yashi can now take on tasks that it couldn’t before because of lack of space. Lubitz said it allows them to buy their displays and other materials in quantity because they have the space for storage. He said their employees now have offices, and can work unencumbered. Finally, he said the additional space has allowed them to upgrade their tools and machinery.
Lubitz says he recognizes that their company touches the community by providing good jobs, utilizing local services and providing product for local retailers, affecting the economy outside of their 15,000 square foot building.
“Because of the incredible space we now have we can allow ourselves to imagine concepts and tackle projects we couldn’t dare to before. Thanks AEDC!”
Bill Wing, Wing Inflatables
Arcata
Bill Wing, owner of Wing Inflatables, said it started with rafting trips and rafting training for Navy Seals and Hollywood film actors. Today, Wing Inflatables manufactures original equipment and replacement sponsons for Rigid Inflatable Boats. Business has been growing steadily for its sixteen years. About eight years into their business, Wing Inflatables reached a growth point and they worked with AEDC to secure funding to create a facility with more space. They needed offices, said Wing who remembered ten employees sharing four computers. They also needed new machinery, and more space to house it. They used the funding from AEDC to build the new facility, and have continued to grow. They are now using both the old facility and the new to house their business and they’re looking to expand again. Wing said he would be happy to work with AEDC again.
“AEDC was the best deal in town. The folks were nice and they offered to help us out at a critical time when we needed a good deal,” he said.