Fueling Ongoing Growth: Servpro

Though the long-term market for cleaning services is reliable, the business of providing them is rife with pitfalls like high overhead, fluctuating demand and drawn-out payment timelines. Servpro is the independent Twin Ports location of a national franchise offering cleaning services – from carpet cleaning and pet-stain remediation to biohazard and post-disaster cleanup. In the early years of the business, sufficient demand for growth was present, but realizing that growth was proving difficult.

How can an emerging business overcome the hurdles of operational complexity and high overhead to achieve growth?

Creative financing and ongoing strategic advisory services from the Entrepreneur Fund gave Servpro the capacity to:

  • Invest in facility improvements to reduce operational costs in the long term
    by increasing energy efficiency
  • Streamline financial management
  • Initiate the purchase of a building, thus expanding capacity and adding an asset

Servpro has achieved 25% annual sales growth and is working on new initiatives to expand their market presence and geographic reach.

EFund Fact:
We can issue loans up to $250k, with more flexible lending requirements and usage terms than those offered by a traditional bank.

Major Financing for a Major Move

Tami LaPole Edmunds, owner and CEO of Art in the Alley, sought financing to enable her to relocate her successful retail business from Superior, Wisconsin, to downtown Duluth – a more suitable and lucrative location. But when she applied for a loan from a conventional bank, the bank turned her down.