Dealer Spotlight: Cycle Imports of Hawaii

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Dealer Spotlight: Cycle Imports of Hawaii

Postby Micronaut » Tue Jul 11, 2006 9:22 pm ... eac2f2f6a4

Cycle Imports Gets the Green Light
Moped Retailer Riding High on SBA Resources
By Jane Sawyer, 7/6/2006 12:58:41 PM
HONOLULU, HI -- “I never really planned to forge-out a retail operation,” said George Burmeister. “This business just evolved as a result of my interest in mopeds.” Burmeister opened Cycle Imports fourteen years ago when he was struggling to find parts for his own bike. “Once other people discovered that I had access to premium quality engine parts and the knowledge of how to improve performance, they wanted me to help them,” he said. “I helped-out a few guys and it’s been non-stop moped sales and service ever since.”

Burmeister travels abroad each year to work directly with manufacturers and suppliers of mopeds and performance parts. Through extensive training and experience, he has become Hawaii’s foremost authority on moped motors, transmissions and every part between the wheels.

But the cost of doing business in Hawaii can be a daunting proposition. According to Burmeister, inventory alone, not to mention his other overhead would set most retailers back on their heels.

“When it’s rainy, like it was for so many months last winter, people just weren’t buying mopeds or parts. Still, I had to continue paying salaries, rents and utilities. My financial reserves became seriously eroded.”

“I heard about the loan programs offered through the U.S. Small Business Administration (SBA) from one of my customers. It turns out I could get a business loan anywhere from $5,000 up to $250,000 with a minimum of requirements under their Community Express Loan Program. I called Joann Seery of Serious Business Solutions, one of SBA’s Technical Assistance Providers and met with her for about an hour. She met with me on-site and I didn’t even have to leave the store. I gave her my application and that was pretty much it – in a couple of weeks the funds to ship in a container of mopeds were electronically transferred to my bank account.” “I placed the order, received the shipment and sold the bikes,” he said. “It couldn’t have been easier.”

It worked so well, Burmeister has since funded another shipment through SBA and is now looking to fund his third project. “SBA has really come through for me;” he said. “There was a point there where I wasn’t sure the business could survive.”

Located on the corner of McCully and Waiola , Cycle Imports provides Oahu and neighbor islands with superior motorcycle supplies and services. Their friendly, knowledgeable staff and convenient town location has helped them become Honolulu's premier 50cc small bikes shop.

Cycle Imports is guaranty, significantly reducing the banks’ risk and encouraging more lending to small businesses. For loans under $50,000, there is no requirement for collateral, business plans, financial statements or tax returns. With such limited documentation and the streamlined applications, good credit is a must.

All Hawaii based small businesses are now eligible for Community Express Loans due to the recent expansion of the HUBzone status to the entire state.

With so many more small business owners and entrepreneurs in a position to get loans, the SBA has set the date for another “Business Loan Blitz” for July 27, 2006, from 9:00 a.m. to 2:00 p.m.

Finance experts, technical assistance providers and consultants take 30 minutes appointments to help prospective borrowers with the applications. Don’t miss this great opportunity to keep your business going strong.

Contact the SBA at 808/541-2986 for details or visit their website at and
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