FSBDC, UCF, Business Consulting

Above and Beyond Limousines

Not once during Herman Johnson III’s 20 plus year naval career did his passion for vintage automobiles wand. So, upon his retirement in 2007 Herman started his business “Above and Beyond Limousines”, assembling a fleet of 9 vintage rides, which includes a caddy Excalibur, a 68” Chevy, and custom stretch limos, Bentley, Rolls and Jaguar.

“I believe we would not have been successful in obtaining the loan if it were not for the advice and direction provided by the SBDC at UCF.”

Herman Johnson, Owner
Above and Beyond Limousines

From the very beginning Above and Beyond has attracted the high profile client seeking the “splashy”, entertainers and professional sports figures as well as the more conventional wedding and prom clients.

As the business matured and grew Herman recognized the importance of maintaining his cars to the highest quality standards and competitive uniqueness. Redoing exteriors and interiors is expensive; Herman needed a loan, a daunting task in 2010. He turned to the SBDC at UCF for direction. With the assistance of Roger Greenwald, CBA Herman prepared the necessary elements, a clear and compelling business plan, supportive financial pro forma(s), personal financial statements and prior year’s performance financials, to seek lending.

In the 2nd quarter of this year Borrego Springs Bank approved the required loan (SBA 7a) amount enabling the restorations and the acquisition of a 10th classic ride. The business is enjoying its best year ever, anticipating in excess of $250,000 in sales. The growth has resulted in 3 new full time employees and the addition of 3 part time drivers.

I believe we would not have been successful in obtaining the loan, if it were not for the advice and direction provided by the SBDC at UCF.” “It’s difficult enough to get funding, thanks to SBDC we did it the right way” says Herman.

FSBDC, UCF, Business Consulting

Hibernia Nursery

This is a true and modern tale about Irishman David Counihan, who at the age of 21, landed on the shores of Miami, with the lust for adventure. After a few years, many different paths, and knowledge gained, he realized he loved horticulture and nature. He worked himself into the commercial business of tree farming and now is the proud owner of Hibernia nursery located in Webster (Sumter County) Florida. During his journey he saw that there was great potential in growing ornamental trees and shrubs for the commercial landscaping business.

“The SBDC is a great source of support and information.”

David Counihan
Hibernia Nursery
Webster, FL

In 1997 he purchased 80 acres and in 2001 secured financing to begin operations on what is now Hibernia Nursery. In 2007 as Hibernia began to feel the effects of the recession he knew he would have to readjust everything he was doing. The decision was made to dramatically cut expenses wherever possible accept in sales where he felt he would have to double his customer base if Hibernia was going to survive as many of his existing customers were buying less or going out of business. It has now been 3yrs since the “Great Recession” began and Hibernia is still in survival mode. In January 2009 he went to the SBDC at UCF in Lake Sumter. With assistance from an SBDC counselor, Initial decisions had been made, addressing sales focus, operational procedures and cost cutting adjustments to keep the business in operation and profitable. Together they discussed the need to secure additional financing. In spring 2010 David researched the financing possibilities that were available. His SBDC counselor suggested a USDA backed loan to consolidate the debts.

At The B.O.S.S (Business Owner’s Strategic Summit) meeting held near Minneola, Lake County, by the SBDC at UCF in Lake County, David was introduced directly to one of the key USDA contacts who informed him they did have funds available for companies like Hibernia. The USDA recommended Capital Resources to give additional help with the application process. Less than three months later David secured a USDA refinancing loan for 2.5 million over 20 years at a rate that is $1000 less than his previous monthly payments. David currently employs 50 people and expanding the business to Texas and the Northeastern U.S. David looks ahead to the future, smiles to himself each day as he feels success. This is the tale of Irishman David Counihan, who arrived on the shores of this great country, with a few shillings, and a lot of vision. He knew in his heart that the opportunities were out there he just had to find them and make them work, and with the advice of some great people that is just what he did.

FSBDC, UCF, Business Consulting

FM Financial Services

FM Financial Services, Inc. is a full-service consulting business providing book keeping and accounting, financial planning, investment and mortgage broker services to individuals and small businesses throughout Central Florida. Owned by Fozia Andarge, the company has been in business since 1992.

“The SBDC has been so helpful to my business because not only do I have a place to refer my clients for overall business assistance, the center has helped me grow my business and expand its service offerings. I really like Pauline’s common sense approach to business and her confidence that there is a solution to every problem.”

Fozia Andarge
FM Financial Services

In 1982, during a period of political upheaval in Ethiopia, Fozia left her native country and settled in the United States. Following the American dream, she attended University of Central Florida and graduated with a B.S. degree in Finance. Upon graduation, Fozia worked at an insurance company and then a stockbroker to gain valuable experience, as well as develop the foundation for her business. However, her ultimate dream was to be an independent business owner.

FM Financial Services has evolved over the years, at first financial products were the only services offered, but after careful planning and strategizing, Fozia recognized the need to diversify her offerings. From the beginning, Fozia sought the resources of the Small Business Development Center at UCF. She started meeting with CBA Pauline Davis in the early 90’s – when the business was just a dream and needed guidance through the business start-up process. Since that time, Fozia has contacted Pauline whenever she needed business assistance. Pauline’s business expertise and the resources of the SBDC at UCF get credit for her success. Fozia states, “The SBDC has been so helpful to my business because not only do I have a place to refer my clients for overall business assistance, the center has helped me grow my business and expand its service offerings. I really like Pauline‘s common sense approach to business and her confidence that there is a solution to every problem.”

Today, Fozia is very optimistic about the future of her business considering the economy. She understands the challenges as new rules and licensing requirements for accountants and mortgage brokers are developed. She considers herself a lifelong learner and understands what it takes to stay ahead of the competition. She is grateful to her clients that have stayed with her throughout the years. She also gives credit to her husband Haile, who helps her with technology and son Caleb who is a great motivator.

FSBDC, UCF, Business Consulting

Pegasus Transportation

In 1994, Brazilian immigrant Fernando Pereira and three business partners formed VIP’s Jet Tours Corporation, conducting business under the company name ‘Pegasus Transportation.’ With minimal assets, Pegasus’ transportation services started with a simple 100 square-foot office, a 15-passenger van and just one driver. After the first year, Fernando bought his partners out and continued to run the business on his own with his wife, Claudia.

“The SBDC has been on our side since 2001 and we couldn’t be more thankful for it.”

Fernando Pereira
Pegasus Transportation

Despite many struggles over the past decade, Pegasus Transportation managed to grow and diversify. They now offer a variety of worry-free transportation services including itinerary planning, meet-and-greet services, luggage assistance, and on-site supervision. Today, Pegasus has 60 employees, 20 coach buses and two offices located in Orlando and Miami.

The impressive success of Pegasus Transportation is a story of both managing a business effectively and overcoming hardships successfully. The company’s first major challenge came when the travel industry collapsed as a result of the 9/11 disaster. Pegasus nearly disappeared. “Without SBDC assistance in obtaining the Economic Injury Disaster Loan (EIDL), we could not have survived,” said Fernando. As Pegasus got back on their feet, another disaster hit in 2004 when a series of hurricanes hit the state of Florida, causing Pegasus once again to turn to the SBDC assistance. Through Fernando’s determination, Pegasus was able to stay afloat with the receipt of two additional EIDL loans acquitted with assistance by the SBDC at UCF.

Finally and most recently, the domestic travel market’s decline in 2009 due to the nation’s weak economy took a toll on Pegasus. To overcome this ordeal, Pegasus successfully turned its focus to the international travel segment, compensating for the domestic downturn. This change in focus resulted in over a 300% increase in the company’s net income. With strong financial stability, Pegasus was approved for two SBA 504 Loans, enabling the company to expand its business into a new 3,000 square-foot office space, as well as an expansive 3,600 square-foot shop on 2.5 acres of property.

Over the past decade, Fernando and Claudia took advantage of many of the services offered by the SBDC at UCF including 10 years of in-depth business counseling, business training and skill development through the SBDC’s strategic workshop series and referral resource support through the SBDC’s Small Business Resource Network. “The SBDC at UCF was the key to our growth and success, not only giving alternatives to our business but also making available services that seemed only accessible to big corporations. The SBDC has helped us to overcome situations like September 11 and hurricanes and also helped us to obtain capital for the construction of our new facility,” said Claudia. Fernando added, “The SBDC has been on our side since 2001 and we couldn’t be more thankful for it.”