Riverside electric llc | Application Preview
Riverside Electric LLC is seeking government grant funding to eliminate existing credit card debt, which has hindered the company's financial management, particularly during the challenges posed by the COVID-19 pandemic. The funding will allow the owner to focus on business operations without the burden of debt, enabling better planning and growth strategies.
The business plan emphasizes that with the debt paid off, Riverside Electric could afford to pay employees more, thus fostering job stability as work demand increases post-pandemic.
The owner highlights his commitment to the community, noting his extensive work ethic of over 50 hours a week, his membership in the American Legion, and his dedication to supporting veterans.
Riverside Electric competes against larger companies like Michael and Son's, F.H. Furr, and Green to Ground, but believes its local roots and personalized service give it a competitive advantage in the area. The applicant seeks approval for funding to revive the business and support its future growth.
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General Information
Business Registration Number: 22630
Location: FRONT ROYAL, VA, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
Funding would be used to pay off material debit from a visa credit card. This would allow the company to be debit free and I would be able to manage the company better alone if need be. Covid came along and made it hard for me to get the work being customers did not want me in their homes. This caused the credit card to be used for bills and later materials purchased online. I do believe I can keep the company going and possibly grow if my debit was paid off. Thanks
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Business Plan
If I can get reset without debit, now that covid is over and work is picking up i could afford to pay labors more and could keep them employed. I am a 51 year old reasonable man who works 50 plus hours a week. I am a member of the American Legion and donate as much time as I can to help our veterans there.
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Self Identified Competition
My top competitors are large established companies. They are Michael and Son's, F.H. Furr and Green to Ground I am a home town electrical service company. I was raise here in Front Royal va.
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Contact Applicant
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