A resident of Indiana, Kerry Hilgendorf first came to the North Central ISBDC in August 2006. She was looking for assistance in doing a feasibility study and writing a business plan to obtain financing to start an equestrian center to board horses with an indoor arena for training.
Business Advisors Jim Gregar and Bob York assisted Kerry and her mother Diane Shields in doing research for their equestrian center. Kerry attended the Preparing Your Business Plan and QuickBooks seminars. She also participated in the Collegiate Management Assistance program during which a team of students from Notre Dame helped her with a feasibility study.
The ISBDC advisors helped Kerry and Diane with their business plan and explained the requirements for bank financing. A meeting was arranged with the local Business Development Corporation that administers the SBA 504 loan program. ISBDC advisors assisted the clients with sales projections, profit and loss statement, balance sheet and cash flow statement.
As a result of assistance from the SBDC, Kerry and Diane received a $700,000 SBA loan and hired a contractor to build a full-service heated equestrian facility with 24 horse stalls, hot/cold water indoor and outdoor wash stalls, and a 72’ x 144’ indoor riding arena. In addition, two outdoor riding arenas and 30 acres of custom-seeded pasture land complete this first-class environment for both equestrian education and horse boarding.
Kerry said, “The assistance from the SBDC has been extremely helpful for me and my mother in obtaining financing to start our new business.”