Owning a business was a goal of Jeramie and Bray Felton of Hoxie, Arkansas. When a local child care center came up for sale, they knew it was time to make the leap. The Felton’s were referred to Laura Miller, Center Director at the Arkansas State University Small Business and Technology Development Center by ACC’s lenders. They were working with the Feltons to secure a SBA guaranteed loan for the business purchase.
Miller provided market research to help the Feltons learn more about their competition and the demographics of the area surrounding the business. She reviewed their business plan and worked with them to prepare financial projections. Throughout the loan process, she continued to work closely with them to help them provide the information that we requested.
After securing our loan, Jeramie and Bray Felton acquired the child care center and in doing so created 10 jobs. They changed the name to Live, Laugh, Love Learning Center and are in the process of renovating the property. The business was approved to accept vouchers and is currently at capacity.