“The CTSBDC is a broad and deep resource pool capable of helping with any aspect of business.”
With CTSBDC’s assistance since 2013, Prism Specialties of Hartford Springfield Providence has relied on CTSBDC as their trusted resource for business growth and success. Since establishing their high-quality restoration services business in 2013, they have partnered with CTSBDC to navigate various challenges. Their CTSBDC advisor, Shelly Koehler, has been a cornerstone of their success, providing expert guidance on issues such as COVID-related impacts, workforce challenges, and securing capital. Shelly's unwavering support has been instrumental throughout their journey, helping them achieve stability and sustained growth.
Sales Increase
$133,000 (2022-2023)
Capital Access
$1.2 M
Expanding Through Strategic Funding
Prism Specialties of Hartford Springfield Providence turned to CTSBDC for help securing funding to purchase vehicles and equipment. This investment was crucial for their expansion and to drive revenue growth, allowing them to take on larger projects and increase their capacity.
“Shelly has provided us with a clear understanding of the health of our business, guiding us through key financial insights and helping us identify programs and opportunities available to support our growth,” highlights Cristine Kern.
Securing a Bright Future
Prism Specialties of Hartford Springfield Providence is performing well, with strong margins and a solid foundation. Through Shelly Koehler's guidance and the connections, she facilitated with Live Oak Bank, the business secured a $1.2 million SBA 7a loan, allowing them to purchase the building they had been leasing. This milestone, along with a sales increase of $133,000 from 2022 to 2023, has set the stage for future growth. Remarkably, the company created 9 jobs when it started in 2013 and has retained those same 9 positions through 2024. Cristine Kern adds, “The future looks great with us expanding our service area and continuing to grow.”
Over the years, Prism Specialties has achieved significant milestones. From 2013 to 2023, their sales grew from $0 to $1.1 million. Key financial achievements include a $130K DECD loan and a $70K grant in 2014, a $100K line of credit from Berkshire Bank in 2015, and an SBA 504 asset purchase in 2017. Additionally, they saw a 13.5% increase in sales from 2021 to 2022.
A Trusted Partnership with Shelly
Ronald & Cristine Kern recognize that the experience working with Shelly has been outstanding. “Shelly is very easy to talk to person who has a depth of knowledge and experience not often found. We consider her a trusted friend as well as a business advisor and a sounding board for anything we might want to examine.”
Building a Legacy
“Over the past decade, Ron and Cristine, a husband-and-wife team, have built more than just a restoration business—they’ve built a legacy. By harnessing their resources, staying true to their values, and delivering unmatched quality, they have transformed their passion into a million-dollar enterprise known for professionalism and excellence in every project.” – states Shelly.
Congratulations on your continued success!