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Purchasing A Business With Help From The SBDC

Idaho Success Story –

Idaho Success - Snake River Travel PlazaAfter other buyers backed out of purchasing the Snake River Travel Plaza in Blackfoot, Idaho, Jace Katseanes stepped in to organize a purchase with Lori Cox as the manager and accountant. Having worked with the Southeast Idaho SBDC before, Lori knew who to call to facilitate the purchase.

“The purchase process was long and sometimes frustrating, but the SBDC helped us prepare financials and a business plan,” said Lori. “[The SBDC] stuck with us through the whole process.” That hard work resulted in a $3.15M SBA loan.

Jace and Lori turned the plaza around with their MMM Philosophy: a focus on money, management and marketing. This turnaround earned Lori a nomination for Woman Student Entrepreneur of the Year at Idaho State University.

She won the award and received a $500 prize from US Bank at the 2018 Women’s Business Symposium. Lori and Jace have not only been successful SBDC clients — they’ve also given back to the small business community. They have helped other SBDC clients who are contemplating convenience store and service station businesses build accurate projections and make informed decisions.

For more about the Idaho SBDC, visit IdahoSBDC.org. To find your local SBDC, click here.

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