TAUNTON – A more than 20-year-old North Scituate company specializing in well repair and maintenance, as well as water treatment and filtration systems, has received a $20,000 loan from the South Eastern Economic Development Corporation.
Barlow’s Plumbing and Well Systems Inc., wanting to expand its business and add greater capabilities, approached SEED for financing to accomplish the task. The microloan intermediary for the U.S. Small Business Administration in the region worked with Mary Beth and David Barlow to help them complete the loan application.
SEED then referred the Barlows (who are the company’s two employees at the moment) to the R.I. Small Business Development Center, located at Johnson & Wales University, which subsequently reviewed the company’s financial position and made recommendation for cash management and insurance, among other business plan necessities. It was at that point that SEED committed to the loan, which Barlow’s will use for working capital, the purchase of equipment and a used van.
It was the Barlows first experience with SEED, and in addition to the stated desire to expand their business to include rootering services, the couple expects to hire another person within the next two years.