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Solar Stik Gets a Power Boost with an SBA 504 Loan

Jan 2022

In 2006, Solar Stik, Inc. began in a humble 500 square-foot shed producing the only portable solar powered generator of its kind with applications for military, marine, humanitarian and commercial uses.

Founded by husband and wife team Brian Bosley and Stephanie Hollis, Solar Stik has grown to nearly 40 employees. In 2018, the company celebrated a milestone with the shipment of its 100^th Hybrid Power System 7000 – the portable system reduces the fossil fuel consumption of generators by sourcing solar and wind power.

In 2019, Solar Stik was honored as one of the 50 Florida Companies to Watch by GrowFL and the Edward Lowe Foundation. The company was selected from more than 500 nominees as an organization forecast to experience significant growth over the next several years.

The resounding success of Solar Stik fueled their 2020 expansion into a state-of-the-art facility in the West King Street district of St. Augustine, Florida.

Working with Florida First Capital Finance Corporation Vice President and Business Development Officer Kristen Tackett, Solar Stik secured a Small Business Administration 504 loan to construct a brand new 20,000 square-foot building. The $2.73MM project houses sales, manufacturing, warehousing and executive functions.

“A 504 loan is ideal for both the borrower and the lender,” said Tackett. “With only 10% down, the borrower preserves vital working capital and gets a long term below-market fixed interest rate with predictable payments. The lending institution mitigates its loan-to-value exposure due to the program's unique distributed credit structure making it a win-win.”

The autonomous energy solutions provided by Solar Stik have saved lives by reducing reliance on fossil fuels, which in turn lessens the burden of fuel delivery to remote, risky locations. The portable power sources are equally invaluable to emergency operations around the globe following natural disasters.

The company’s humanitarian mission doesn’t stop there.

Ms. Hollis has been an active supporter of the Multiple Sclerosis Society since moving to St. Augustine. Diagnosed with MS, she and the Solar Stik team (Team Stik Together) lead the area year after year in annual donation drives through the Walk MS event.

Additionally, in 2018, while serving on the board of the St. Francis Housing Crisis Center, a local homeless shelter, Ms. Hollis donated materials and design expertise for the renovation of the area’s first center for homeless youth - Port in the Storm.

Visit Solar Stik at www.solarstik.com.

The SBA 504 Loan Program provides up to 90% financing at below-market, fixed interest rates and long amortization 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 with or without a cash-out option.

504 loans are paired with private-sector commercial loans and provide up to $5 million of aggregate SBA eligibility on standard 504 projects; up to $5.5 million per 504 energy efficient green project not exceed $16.5 million in the aggregate; and up to $5.5 million per eligible small manufacturing project with no limit on total SBA dollars available. These are SBA 2nd mortgage loan portions only; there is no limit on overall project dollar size.

For more information about SBA 504 loans in Alabama, Florida or Georgia, contact a Florida First Capital Loan Officer or email us at info@ffcfc.com. Phone: 850.681.3601 or toll-free at 888.320.5504.