Owning a business was a goal of Jeramie and Bray Felton of Hoxie, Arkansas. When a local child care center came up for sale, they knew it was time to make the leap. The Felton’s were referred to Center Director Laura Miller at the Arkansas State University Small Business and Technology Development Center by lenders at Arkansas Capital Corporation. They were working with Arkansas Capital Corporation to secure a SBA guaranteed loan for the business purchase.
Miller provided market research to help the Felton’s learn more about their competition and the demographics of the area surrounding the business. She reviewed their business plan and worked with them to prepare financial projections. Throughout the loan process, she continued to work closely with them to help them provide the information requested by their lender.
After securing a SBA 7a loan from Arkansas Capital Corporation, Jeramie and Bray Felton acquired the child care center and in doing so created 10 jobs. They changed the name to Live, Laugh, Love Learning Center and are in the process of renovating the property. The business was recently approved to accept vouchers and they are enrolling additional children.