By LISA M. REED
IRON MOUNTAIN - Timber Products Inc. of Iron Mountain is using a Small Business Association guaranteed loan to expand its company.
Lisa M. Reed/Daily News Photo
Gerald Moore, district director for the U.S. Small Business Administration of Michigan, congratulates Candy Lauk, president and owner of Timber Products Inc. of Iron Mountain on getting a Small Business Association guaranteed loan. The loan will be used to purchase new equipment and grow the company.
Candy Lauk, president and owner of Timber Products Inc,. said her company received $1,050,000 in funding from the Small Business Association/Michigan Small Business and Technology Development Center in 2012.
She said this summer, that funding will allow the company to move from their Kingsford location on Breitung Avenue to 611 Industrial Drive in Iron Mountain.
A press conference with the U.S. Small Business Administration of Michigan, was held to announce the new location on Tuesday.
In attendance were representatives from the SBA/SBTDC, Florence State Bank, Dickinson Area Partnership, Hanson Realty and Timber Products employees.
Timber Products is run by three women, Lauk's daughter Stacey Weecks, and another female employee, Ann Walker. The company has 26 employees and four part-time employees.
"The exciting part is moving into our new building by this summer. It will be more efficient for running the business," Lauk said.
Funding for the SBA guaranteed loan went through the State Bank of Florence. The money will be used for new equipment and to grow the company.
Gerald Moore, district director for the U.S. Small Business Administration of Michigan, called the collaboration for Timber Products funding a "Tri-fecta."
He said the guidance, counseling and lending of the services offered by the SBA is the perfect marriage.
"This is an example of one business in your community taking advantage of the program," Moore said. "Many businesses are gaining access to the tools and resources they need. Small businesses don't know what they should know and miss out on the resources available."
Moore said small businesses interested in learning more about the resources available to them can call (313) 226-6075.
He said the SBA specializes in the three C's - counseling, capital assistance, and contracting.
"Our resources end, but small businesses get the help they need, and we have to help them get the resources they need," Moore said. "It is a federal, state and local collaborative."
Jim Beauchamp, senior consultant of the Michigan SBTDC for the U.P. Region, assisted Lauk and her staff in developing tools to monitor cash flow and analyze financial data as well as pursue marketing activities.
"Our meetings began as a weekly process and then moved to monthly basis. Candy and her staff quickly proved they had the capability of saving jobs and turning the losing business into a profitable and successful entity," Beauchamp said. "I'm proud of Candy and her staff and wish them continued success in their new facility."
Joel Schultz, regional director for the Michigan SBTDC for the U.P. Region, added Lauk was willing to take the initiative, seek assistance and diligently implement the tools of the SBA program.
The press conference is part of the "Countdown to 83 Helping Small Business SucceedOne County at a Time" campaign undertaken by the SBA's Michigan District Office.
Dickinson County was the start of this campaign and the 74th county Moore has visited since his appointment in 2011.
Timber Products of Iron Mountain is a truckload and LTL dry van carrier serving 48 of the United States with 48-foot and 53-foot trailers.
Established in 1991 in Florence, Wis., the company started hauling landscape bark to Chicago.
By November of that year, it began hauling hickory sawdust from Pulaski, Tenn. to Manitowoc, Wis.
It has now grown to a fleet of more than 25 trucks and hauls a variety of products to 48 states.
Products include roll paper and castings from the local community.
Lisa M. Reed's e-mail address is firstname.lastname@example.org.