Business Finance (Loans):
2005 Success Stories
(Import-Export Tire Co.)

Applicant:
Import-Export Tire Co.
400 Unity Street, Suite 100
Latrobe, PA  15650

County:
Westmoreland

Total Project Cost:
$400,000

Project:
Shortly after moving into a new site Tim Myers, Chief Executive Officer of Import-Export Tire Company came to realize they needed to update and improve the fire suppression system in their retreading shop to reduce their exposure to financial loss.  Worker safety became an issue, and if they were forced to discontinue manufacturing retread tires the business would be forced to layoff a significant portion of their work staff.

The cost of installing a new suppression system was far beyond what was anticipated and Tim turned to his bank and the Southwestern Pennsylvania Corporation to meet his borrowing needs. Shortly after meeting with an SPC staff member an application for assistance was submitted for approval.  Funds were made available for the new system, via the Commonwealth’s Small Business First Loan Fund, to make the project work.

Result:
A regional manufacturing business was able to continue to maintain full employment and provide a safe work environment. Import-Export Tire will be able to fully utilize the new space and meet the needs of their expanded client base.

[ Go Back To Main Business Finance Page ]

[ top ]

For more information about SPC's Small Business Finance Program, contact Richard Wallace at (412) 391-5590 x322 or BusinessFinance@spcregion.org.

[ top ]