Margaret Jennings has a fast growing successful business. After working as a therapist she wanted to start her own business on Whidbey Island. However, she had limited funds and her applications to two banks were turned down. Margaret contacted the Island County Economic Development Counsel in Coupeville for assistance.
Margaret met with the local SCORE counselor, and they worked together to determine the market potential, develop her business plan, and meet other start-up requirements. It was clear to her SCORE counselor that she met the requirements start a successful business. He met with a bank loan officer and discussed the details of her business plan and her potential for success. After a review of her qualifications by the bank loan committee Margaret was given a $10,000 line-of-credit. These funds enabled her to begin her specialized therapy services. Her appointments grew rapidly due to the excellent feedback patients gave to their physicians. Her first full year in business ending December 2010 and she did over $130,000 in sales. She had developed an excellent reputation for outstanding therapy services with both her patients and local physicians. Margaret’s therapy business continues to increase beyond her expectations in 2011. Her only problem is finding a qualified therapy assistant to help manage her increasing patient workload. She continues to work with her SCORE counselor as needed.