Cheryl Valenzuala is a scheduled speaker at the Republican National Convention. She’s also the proud owner [along with her husband, Eli] of a business that started in her garage...
...As seen on National Small Business Week, their success was made anything but on their own:
"For First State Manufacturing, Inc., the dream began in 1998 with a man, a woman, and a sewing machine in yes, you guessed it, a garage in Milford, Del. Today, that dream has become First State Manufacturing (FSM), a thriving business employing more than 40 technicians working in a new 66,000 square-foot facility funded by a $1.8 million U.S. Small Business Administration 504 loan.
"Eli Valenzuela learned the upholstery trade from a correspondence course he took in the Army; he applied what he learned while working at Dover Air Force Base upholstering enormous C-5 Galaxy airlifters. With help from SCORE and the Delaware Small Business Development Center, Eli and his wife Cheryl composed a business plan, and opened FSM in their garage. With an initial $20,000 SBA-guaranteed loan they secured larger contracts and also became certified in SBA’s 8(a) Business Development Program.
"In 2001 FSM was ready to grow again, with a $96,500 SBA-guaranteed loan to modernize and expand inventory. After the 9/11 tragedy and its economic fallout, FSM obtained a $65,800 SBA disaster loan to maintain their business and employees until revenues returned. FSM revenue doubled from 2007 to 2010, increasing from $2.2 million annual revenue to $4.5 million."
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