Small Business Initiative Saves Local Fabricating Business
A small business initiative helped save a local specialty fabricating business and now, things are looking up.
The Head of the Small Business Administration is touring a cinderella story that almost closed because of trouble at the bank. Karen Mills says specialty fabricator, Schaefer Technologies, is a shining example of how small business can thrive with a little help. "We've been adding manufacturing jobs for about 24 months, and what this is saying to big business is 'maybe I want to bring operations that I own, overseas, back to the united states, because I have a supply chain in Indiana, and Ohio, and Illinois, that knows how to make this stuff. That's what Schaefer Represents."
Mills says the president is looking at another tax credit for small businesses for buying new equipment, and raising employee wages. Schaefer Technologies took advantage of an SBA loan, whch the company president says will keep them from getting too far behind during tough times.