Right Way Flagging and Sign Expands with SBA 7(a) Loans
Another great Delaware small business success with the help of SBA 7(a) Loans!
• The U.S. Small Business Administration teamed with Wilmington Trust to finance a total of $270,000 in SBA guaranteed 7(a) loans to fund operating costs and the purchase of necessary equipment for Right way Flagging and Sign Company. The two loans were issued under the Patriot Express Program which is available to veterans, National Guard members, reservists and their spouses. Roger Satterfield served as an Army reservist.
• The SBA loans provided a 90 percent government guarantee to Wilmington Trust under the provisions of the American Recovery and Reinvestment Act (ARRA) and saved the business approximately $8,700 in SBA imposed fees temporarily waived under the Recovery Act.
• Right Way started operations in 2004 and in the first year had three customers and three employees. Today they have over 140 customers, employ 31 people, and will exceed $1 million in sales this year.
• Its customer base extends from Maryland to Pennsylvania and includes small businesses, national and international corporations and government agencies in three states. Right Way Flagging and Sign Company manufactures its own signs and can produce a custom product within an hour of ordering. This provides great flexibility and significantly reduces downtime while meeting customer demands.
WHO: The Honorable Tom Carper, U.S. Senate
Andrew Dinsmore, Office of Senator Ted Kaufman
Roger Satterfield, CEO, president & owner, Right Way Flagging and Sign
Ann Satterfield, chief operating officer, Right Way Flagging and Sign
Jayne Armstrong, district director, SBA Delaware District Office
Paul Hughes, assistant vice president, Wilmington Trust
WHAT: Check presentation/photo opportunity, tour & interviews
WHEN: Friday, August 13, 2010
1:15 p.m.
WHERE: Right Way Flagging and Sign Company
173 Brenda Lane, Building 4, Suite D
Camden, DE 19934
(302) 698-5229
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