Adonis Electronics Recycling – Mike Wichlan, Matt Primo, and Jim Adolfus
Damon met with Mike and Matt for the first time at the Center in November 2014. They indicated they were having problems with process and no capital. We felt they had a good business idea but were not executing very well. We identified the major issues and set about working them. They were probably a month or two from closing their doors at our first meeting.
RESULTS: Today, they have brought on a new partner (Jim) with a cash infusion of $30K and plans to invest $12.5K more. Matt is also investing another $12.5K. They have set up a retail space in their location. In addition, they have hired 3 new full time employees.
Blue Osprey Security – Darrel Shanks
Darrel contacted us in December 2014 and was pursuing a Vocational Rehabilitation Self Employment grant for $25,000. We reviewed the plan he had and put together a good plan with solid financials, competitive advantage, marketing, and strategy. It was forwarded with our recommendation for approval in January. As always, we are optimistic this will go through even though it was strongly related to fire arms which is usually something not funded by the VA. Their concern was it may be selling or manufacturing guns or ammunition.
UPDATE: Grant has been approved for $24,600 and is being disbursed. Looking at opening in April 2015. Will not have any immediate new hires as he will be a one man show at the beginning.