Continued from: https://steemit.com/business/@coalrollin/the-true-american-way-part-one
There was the plant building, not very nice and smelled worse, but cheap! A piece of critical equipment 3000 miles away , bought it site unseen because there was no money for travel. Found a plant about 200 miles away that had needed equipment that we could have if we dismantled , loaded and hauled away.found other equipment at other locations, most of which was broken or incomplete.Found another small business that had declared bankruptcy and was selling everything. Got a yard full of structural steel shapes for penny's on the dollar. Was having a hard time moving anything because there was only a small forklift and there was some pretty heavy stuff to move. The redneck also had a farm tractor but it was only good for dragging something. There were several friends in this industry that had the back of these two and provided equipment that needed modifications or complete refurbishing. This was the basis for the start of this business
Redneck found a bigger forklift. It needed a motor but the price was right! Free! He rebuilt a motor and put in it and he had the needed bigger forklift.Yankee and Redneck were working furiously but just couldn't get enough done. Yankee had a son that joined in hoping that somewhere down the road he would be able get paid. Not too long after that redneck's son joined in the effort.This was the original workforce. This crew worked all of the hours that they were physically capable of working. Days, weeks, months went by rebuilding, refurbishing,building from scratch and modifying equipment. It starting taking shape. It started to look like a plant. There was a major problem. They run out of their own money.
They took a hard look at what they had.they put each piece of equipment that had been rebuilt, refurbished or built from scratch on a list with evaluation of its worth . They went to the SBA and secured a commitment that if the two could find a bank that would loan them an equal amount they would match it.they found a bank that was willing to do that. This was the capital that this business was started with.
More to come...
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