March 31, 2010

House of Pets in Alamosa, Colorado gets ARC loan


Alamosa, Colorado

House of Pets Owner, Mike Lopez, wondered how he was going to catch up on bills that seemed to mount up during the recession. How was he going to replenish his inventory, begin a new marketing campaign and keep his doors open? He felt he had budgeted to the bare bones but still wasn't coming out ahead. Then he heard about the Small Business Administration's one time offer to help business owners during these tough times by paying off existing debts with a no-interest loan. Luckily, 1st SouthWest Bank in Alamosa had been preparing for this program and the lenders were happy to assist him. Of course, when you are working with the government, there seems to be a never ending request for paperwork. When he finally thought he had submitted everything, Greg from the bank called him and said he needed projections. Of course, this is right when Mike's computer was in the repair shop. So then he contacted Donna Wehe at the Small Business Development Center for assistance. With the help of his CPA, Donna, and Greg, he was finally able to produce all the required documents. Greg was persistent to make sure the SBA received the application and finally the funding came through. Even though it seems like a small amount to most lenders, it was a huge relief to Mike. Since then he has added some new inventory, cleaned up his shop and is welcoming the warm weather with planned outdoor activities. House of Pets has been in Alamosa since 1984 and is located near the WalMart shopping center on Del Sol Drive. He offers the only store in the San Luis Valley to fully service your aquarium and a wide selection of fish along with other pet products. His puppies are not from a puppy mill but from a highly qualified breeder and Mike can be reached at 589-3773.