Release Number: 11-05
Contact: David Ramp (205) 290-7101 ext. 247
Internet Address: http://www.sba.gov/al
Alabama Awnings Co., Inc.
"Awning Business Increases Its Coverage"
BIRMINGHAM, AL - Polly Hicks, President of Alabama Awnings, Inc. purchased the business from its founder in 1997. A lender referred her to the University of North Alabama Small Business Development Center (SBDC) and thus began a long and beneficial relationship.
Over the years, the SBDC has helped Ms. Hicks obtain a SBA loan to provide working capital,consolidate debt and purchase the business property. The SBDC, along with a student team, conducted a management audit of the firm and provided a business valuation showing an appraised value far in excess of the value when the business was purchased. The SBDC has assisted the business with expanding its product line from canvas awnings to specialty lines such as boat covers, machine covers, metal awnings and tents for the Boy Scouts. Alabama Awnings has expanded operations from only the Shoals area of Alabama to a current 100 mile radius including parts of Alabama, Tennessee and Mississippi.
Ms. Hicks states that the SBDC is available to provide counseling assistance when needed but she feels that the best thing is that she can just call and discuss different aspects of the business and get help when she has concerns or just wants advice. Alabama Awnings is a member of the Shoals Chamber of Commerce and the Better Business Bureau of North Alabama.