After 10 years as a project engineer and project manager on large-scale construction projects, Justin Engelbach decided to pursue his dream of owning and operating his own business. Together with his wife, Michele, Fresh Coat Painters was launched as a family-owned commercial and residential painting company.
With quality and customer service as the driving forces behind the business, Fresh Coat Painters quickly established themselves as one of the premier painting contractors in Santa Barbara and Ventura counties, and surrounding areas. The business started growing right from the start and Engelbach soon needed additional equipment to meet the demand. However, being first-time business owners, Engelbach found it difficult to get financing.
“Our loan request was turned down by four different banks. I needed to establish credit for my fledgling business,” remembered Engelbach. “I learned about EDC-VC at a Ventura Chamber meeting and turned to them for help with a $15,000 start-up loan.”
Marvin Boateng, SBDC loan officer, worked with Engelbach to help secure the loan, which went toward the initial equipment purchases, plus one employee to help support the rapidly expanding business.
“Marvin was great to work with. He was extremely knowledgeable about the loan process and was able to connect us with the right type of lending organization. Throughout the process, he was courteous and friendly and really took the time to help us explore our best options,” said Engelbach. “It was a great experience.”
Fresh Coat Painters just celebrated their three-year anniversary and hopes to soon expand into a new industrial space with offices and spray booths. The business now averages 10 full-time employees throughout the year, and as many as 15 full-time employees during the summer peak. Fresh Coat Painters continues to grow and business is thriving. Engelbach is paying off his initial loan and, looking toward the future, he hopes to someday start getting revolving lines of credit for his business.