From Employee to Owner with help from the SBDC
“I always wanted to own my own shop,” said Dave Carter, now the owner of Dave’s Diesel Technology in Milton-Freewater.
Dave had worked five years for the formerly named Wentland Diesel when the owner decided he wanted to sell the business. Since Dave had more than 40 years of experience as a mechanic and his specialty is diesel engine repair, he was a perfect fit to be the new owner.
His wife Carolyn — an experienced automotive repair bookkeeper — was a natural to take over the position of office manager, the first employee for the business. A business plan was a necessary requirement to apply for the SBA loan he needed for the purchase. Assisted by his Blue Mountain SBDC adviser, Dave put it all together with LivePlan. Financing was received from a local bank and the SBA guaranteed the remaining portion of the loan.
Dave said that the SBDC team gave him the confidence, the tools and the support he needed to buy the business. Future plans are to expand the business slowly and continue to buy equipment on an as-needed basis.
“My lifelong dream came true because of the SBDC’s help and support,” Dave said.