CLINTON, Miss., July 6, 2011 (GLOBE NEWSWIRE) — After retiring from the league in 2003, former NFL placekicker Jaret Holmes was trying to figure out his next career move. Some friends had started a specialty advertising business, and it sounded like a venture he could be successful at doing. That year he started Holmes Specialty Advertising, Inc., a distribution company for promotional items, out of his home office. Less than a year later, he was able to purchase a small building in Clinton, Mississippi, to house his operation.
Photos accompanying this release are available at http://ping.fm/NgnKK and http://ping.fm/D4kd9
The business was flourishing, doubling in size each of the first two years. But, the 1,300-square-foot building that Holmes Specialty Advertising occupied had become too small for the growing business. Mr. Holmes, who owns the business along with his brother, Derek Holmes, spoke with Mark Ouellette, vice president and director of affordable housing at BankPlus in Jackson, Mississippi, about his options for expansion
“Mark helped me generate ideas of how I could get a loan and acquire a bigger building to help us to procure new and better business, hire more people, and ultimately give us a little bit more space,” Mr. Holmes said.
With the help of a loan from BankPlus, funded by the Federal Home Loan Bank of Dallas’s Economic Development Program (EDP), Mr. Holmes purchased a new 7,000-square-foot building. The business also qualified for an accompanying ,000 EDPPlus grant, which Mr. Holmes used toward building renovations.
“The loan and grant definitely helped us attain the level we thought we would get to,” Mr. Holmes said.
The business further expanded by purchasing a screen printing business.
“We were only able to buy the screen printing business once we received the loan to rehab our new building. At the time, we really needed the help and BankPlus was willing to work with us,” Mr. Holmes said. “We knew we were growing and we were definitely outgrowing the old building we were in.”
Mr. Ouellette said Mr. Holmes has totally transformed the building he purchased with the help of the grant, adding brick to the front, a new roof, and cedar columns in front of the building.
“Holmes Specialty Advertising has a sound business model and the owners have the drive to succeed,” said Mr. Ouellette. “They are not only successful businessmen, but are also successful fathers, husbands, and members of the community. They live by the Golden Rule.”
When Mr. Ouellette tells his clients about the “free” grant money they can receive through the EDPPlus grant, he is normally met with either a laugh or silence. In the case of Holmes Specialty Advertising, it was the latter.
“It’s funny,” said Mr. Ouellette.�”After meeting to discuss the company’s needs to facilitate their growth, I asked them if they thought a ,000 grant might be helpful. There was a brief pause as if to say ‘Are you joking?’ No, I wasn’t.�I appreciate the Federal Home Loan Bank of Dallas giving me the opportunity to offer such helpful programs as the EDP and EDPPlus.”
Holmes Specialty Advertising has continued to flourish. In addition to its recent expansion, the company has also grown to 14 employees.
“The Lord is really blessing us,” Mr. Holmes said. “We’ve been able to work through all of today’s economic issues. The people we hired way back when are still here, and every year we’ve continued to move forward. Even as the economy slowed down, we’ve continued to grow.”
Through EDP, FHLB Dallas provides favorably priced advances to its member institutions, such as BankPlus, in order to support economic development and community revitalization projects that are qualified by location, income, or consumer demographics.� If a member institution is approved for an EDP advance, the member’s customer may then be eligible for an accompanying EDPPlus grant up to ,000.� EDPPlus grants are noncompetitive and available on a first-come, first-served basis to promote and enhance small business development in underserved areas or to underserved populations.� Through its member institutions, FHLB Dallas awarded more than �5,000 in EDPPlus grants in 2010, and has made another million available to members in 2011.
For more information on the EDP and EDPPlus programs, visit the Community Investment section of the Bank’s website at www.fhlb.com/community/.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932.� FHLB Dallas, with total assets of .2 billion as of March 31, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.� For more information, visit the FHLB Dallas website at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://ping.fm/FIs5q
The photo is also available via AP PhotoExpress
CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445
http://bit.ly/nPR6aV
No comments:
Post a Comment