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Florida First Capital Salutes the Vetrepreneurs Who Help Build Our Communities

Nov 2020

During the month of November, and throughout the year, Florida First Capital salutes the veteran-owned small businesses who help build the economic foundations of our communities.

According to a report by the Small Business Administration (SBA), in 2017, there were 2.52 million veteran majority-owned businesses in the United States. Of these businesses, 99.9% are classified as small businesses.

While they may be considered small businesses, they have a mighty economic impact. In the same report, the SBA reveals veteran owned small businesses employ more than 5 million people nationwide. Additionally, they generated revenue of $1.14 trillion, an annual payroll of $195 billion and represent 9.15% of all U.S. businesses.

Entrepreneurship, or Vetrepreneurship in this case, requires grit and determination – something military veterans are accustomed to. While the road to small business ownership isn’t easy, it shouldn’t be impossible.

The SBA 504 Loan Program offers an alternative to conventional lending with below-market, fixed rate loans with terms up to 25 years. With down payments as low as 10%, the 504 loan preserves precious working capital while providing predictable and stable payments for borrowers.

Meet Ron Gamble and Bob English, two veteran small business owners who served their country and are now serving their communities.

Gamble, US Navy Veteran and Founder & Brewmaster of Veterans United Craft Brewery, was a naval flight officer deployed to Iraq in 1991. Following his military service, his passion for brewing began with a simple homebrewing kit gifted by his wife, Sheryl.

By 2007, Gamble’s hobby had grown into a full-fledged career path. He attended rigorous training at the Siebel Institute and managed a number of brewhouse and cellar operations in the New England area.

In 2013, Gamble returned to Jacksonville and organized a group of military veterans who shared his enthusiasm for brewing to form Veterans United Craft Brewery. With the help of an SBA 504 loan through Florida First Capital Vice President and Business Development Officer, Kristen Tackett, brewing equipment and furniture and fixtures were purchased to begin operations.

“With as little as 15% down for start-up businesses, borrowers can reduce their cash outlay and preserve vital working capital,” said Tackett. “Plus, below market fixed interest rates and loan terms up to 25 years make savvy business sense.”

Gamble’s staff is primarily made up of military veterans and the beer is emblazoned with patriotic branding, like the Raging Blonde Ale with World War II icon Rosie the Riveter on the label. “I wanted to take everything I learned from the service and take that same pride and passion to sell beers at the brewery,” said Gamble.

For Bob English, US Coast Guard Veteran and Founder & CEO of Valiant Products, Inc., the commitment to service and accountability extends to his business practice.

Located in Lakeland, Florida, Valiant has been a leader in metal fabrication since 1978. English started the company as a manufacturer of metal trash and linen chutes and over the years has expanded operations to include storage lockers, propane tanks, recycling bins and other specialty construction products.

English served in the Coast Guard from 1956-1960. One of his proudest accomplishments has been the company’s domestic focus. “We believe in the concept of ‘Made in the USA’,” said English. “All of our work is produced in house and we do not outsource.”

With the expansion of operations and product line came the need for additional specialized equipment. Since 2014, Valiant has repeatedly turned to Florida First Capital Vice President and Business Development Officer, Scott Radway, and the SBA 504 Loan Program to fund the purchase of heavy equipment and machinery. Five times to be exact!

“Customers often think of the SBA 504 Loan Program as a one-and-done financing option,” said Radway. “The good news is, the program is available for multiple projects as long as the aggregate SBA loan amount doesn’t exceed $5 million on standard projects and $16.5 million on green projects. Even better, there is no aggregate limit on total SBA dollars available for manufacturing projects,” explained Radway.

With up to 90% financing at below-market, fixed interest rates and terms up to 25 years for the purchase of major fixed assets, such as owner-occupied commercial real estate, renovations, new construction, energy efficient “green” initiatives and/or fixed heavy duty machinery and equipment, as well as the refinance of commercial mortgage and other business debt, the SBA 504 Loan Program helps small businesses grow and prosper.

Florida First Capital salutes veteran-owned businesses and the entrepreneurial spirit that helps build and sustain our communities.

Visit Veterans United Craft Brewery at vubrew.com. Visit Valiant Products, Inc. at valiantproductsinc.com.

For more information about SBA 504 loans in Alabama, Florida or South Georgia, contact a Florida First Capital Loan Officer or email us at info@ffcfc.com. Phone: 850.681.3601 or toll-free at 800.504.LOAN.