VetLoan Advantage Provides Needed Capital to Capital Business Machines
Rogers runs Capital Business Machines with his father, Bill, and two brothers, Byron and Bryce. The family has been in the business since 1975 and Capital Business Machines has been around since 1939. Brett and his brothers started working in the business when they were very young, working at the office “doing all those manual things they tell you builds character,” Brett Rogers said with a laugh.
In its current location since 2000, the Rogers family realized they needed more space to expand their operations. The family spent 10 years looking for a new location and are now located at 710 Jones Street in Little Rock (just off the I-630 Woodrow Exit).
The family found out about VetLoan Advantage offered by Six Bridges Capital, a partner company of The Arkansas Capital Corporation Group, through their CPA as well as their local bank. Six Bridges Capital partners with clients’ community banks to provide long-term, fixed-asset financing. In further talks, the Rogers family found that the VetLoan Advantage product was a good fit and would allow them to find the unique combination of warehouse and office space that they desired for their business.
“I would recommend that veterans check out the VetLoan product,” said Brett Rogers, president of Capital Business Machines. “We were able to stop leasing a building and get into a place of our own with very little pain. And overall, businesses can gain access to money at better rates than what they can get elsewhere, which makes it easier for them to take that next step.”
The family qualified for VetLoan Advantage because Bill Rogers was in the Air Force Reserves in Kansas City from 1962-1968. VetLoan Advantage allows veterans to receive a one-third reduction in the SBA 504 loan processing fee, making it easier for veterans to expand their businesses. VetLoan Advantage offers qualifying veterans and their families a lower cost option to raise capital for fixed-asset needs.
“The VetLoan Advantage incentive is a way for us to honor the military veterans who serve our country,” said Al Hodge, senior vice president, Arkansas Capital Corporation and Six Bridges Capital Corporation. “It’s one way we are working to make it easier for veterans to take that next step in growing their businesses and to promote entrepreneurism and business ownership among veterans.”