Grant & Loan Awards: Charlton County
Charlton County
ESB Fund: $112,500
Awarded: 01/16/2008
Applicant: FNB South (Hydraulic.Net LLC)
Description:
ESB loan guarantee for working capital to support Hydraulic.Net LLC, a manufacturing company started in 1997 in Culpepper, Virginia. The company recently purchased a building in Folkston, GA with plans to relocate there. Currently all of their manufacturing is done in China, but the company is changing their business model and will be manufacturing hydraulic pumps in the Folkston plant. This change will benefit the company substantially by reducing lead times and to have the inventory levels they need to maintain. FNB South in Alma is the lender.
Total Budgeted Project Cost: $225,000