Ottumwa Glass sold and repaired vehicle and building glass in Ottumwa for many years, drawing its customer base from the surrounding seven county area. It was sold in 2003 to an individual who was not able to meet the seller’s expectations, so the business came back to the long-time owner and was offered for sale again. This time if the business wasn’t transferred successfully it would likely close, resulting in lost jobs and taxes for the city.

Brian Sincox had been working as a machine operator for a machine shop in a neighboring town. He always wanted to own his own business, and didn’t like having to travel out of town every day to work.

Brian met with the director of the Indian Hills SBDC to determine if a Small Business Administration (SBA) guaranteed loan could be obtained to finance the purchase. The SBDC helped Brian determine that the purchase price was reasonable, based on the value of the assets being purchased and the amount of sales volume supported by past income statements. The SBDC then helped Brian complete an SBA loan application and supporting documentation, which included cash flow projections and a project narrative.

SBA loan financing was approved and Brian was able to take possession of the business in July of 2005. Ottumwa Glass currently employs one part–time and two full-time employees and Brian is already thinking about how he might expand. This timely purchase allows a younger person to take over an existing, productive business that was in danger of closing.

Brian now feels he can use his business as a base to explore new opportunities. He says, “This undertaking was all new to me and overwhelming. The SBDC streamlined the process, allowing the purchase to be made. Without the SBDC I’m not sure I would be in the position I am for future growth.”