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Six More Upstate Businesses Get a Boost From Michelin Development

Small Business Owners Eye 140 Potential Jobs with New Funding

With another $400,000 in low-interest loans offered to six additional small businesses, Michelin Development continues to help fuel economic growth in the Upstate. In August, Michelin announced an additional $1 million, bringing its total funding for small-business loans to $2 million. Michelin Development provides both funding and business expertise to socially and economically disadvantaged businesses throughout the region.

These six businesses are the latest to receive Michelin Development loans: Bridge Your LoveTM, Boydbikes, CeCe’s Mobile Grooming, First Class Barbers, Soluna Salon and TJH Designs.

“Despite the best efforts of the government to spur business growth, small businesses continue to struggle to make ends meet during a rough time,” said John Tully, president of Michelin Development.

“The goal of Michelin Development is not just to keep them on their feet, but to do everything we can to see them reach their goals and succeed.”

Each of the following six companies selected for the most recent Michelin Development Upstate loans are new and existing retail businesses. They are:

* Bridge Your LoveTM – Greenville, S.C.

Founded in early 2009, the mission of Bridge Your Love™ is to help families stay connected to their elderly loved ones. A wireless photo frame enables aging parents or grandparents to receive videos, photographs, notes and audio messages from family members and friends through Bridgeyourlove.com or intuitive mobile apps. Designed especially for seniors, simplicity is the key to this patent-pending device.

Bridge Your Love founder Larry Huff said, “Michelin Development played a critical role in helping us launch our solution, which we believe will become part of the new normal in elder care communications. John Tully and his team at Michelin Development—as well as the folks at Carolina First—care deeply about economic development in the Upstate and the people who drive that engine. I suspect we’ll look back in a few years and fully realize the invaluable contribution they have made to our community.”

* Boydbikes, LLC – Greenville, S.C.

Boyd Johnson, a professional cyclist and well-known cycling coach, started Boydbikes in September 2009. After three years of studying the retail side of the bicycle industry, he launched his business as a high-performance bicycle and wheel manufacturer offering both bicycles and wheels in lightweight carbon fiber. With the Michelin Development loan, Boydbikes was able to clear the hurdle of being just another startup company to becoming a major player in the cycling industry.

“The Michelin Business Development loan enabled us to reach the next level. Three months after receiving the loan, we were able to introduce a new and improved carbon fiber rim for our wheels. With this new rim, our wheels became lighter, faster, stronger and highly competitive. We have also been able to hire a world-class wheel builder,” said Johnson, adding that he is making plans for additional hiring.

* CeCe’s Mobile Grooming – Greer, S.C.

Describing herself as a dedicated worker and a pet lover, CeCe Geddie has enjoyed fifteen years of experience in the pet grooming industry. In 2009, as a result of the Michelin Development loan, Geddie’s dream of starting her own business became a mobile-grooming reality. What she enjoys most about her new business is the mobility while caring for pets of all shapes and sizes.

“As a recent widow, my dream seemed impossible. Michelin Development has made it possible for my dream to come true—my dream to give to the community and to myself. It’s a chance to be self-reliant, to be able to stand on my own two feet for the first time in a while,” said Geddie.

* First Class Barbers – Greenville, S.C.

Grooming is taken to a whole new level at First Class Barbers. In 2008, Ortagus Bennett launched his business designed to meet the needs of busy people with quality service. First Class Barbers is not only an upscale beauty salon but also a car detailing shop. A client can get his car washed, waxed and buffed to a showroom shine all while he relaxes in the barber’s seat.

“I’m thankful for Michelin Development’s loan. We’ll be able to continue our first-class service while hiring additional licensed beauticians and experienced detailing technicians. We plan to hire seven new employees each year for five years. I’m also grateful for the business advice and programs that Michelin Development offers. With programs like SCORE, I don’t have to go through this new business phase alone,” said Bennett.

* Soluna Salon – Seneca, S.C.

In March 2007, Ralph Aucoin opened Soluna’s doors, and the salon was embraced swiftly by the Pickens and Oconee communities. Soluna filled a void in the local market for a salon and spa on par with spas found in major metropolitan cities. Its professionally-trained staff, contemporary décor and excellent client service create an exceptional client experience.

“Our goal is to grow Soluna by investing in our people, products and services. We provide training through a performance-based system in which veteran cosmetologists train new hires, teaching practical skills as well as business techniques. With our loan funds, we plan to implement this system with the help of salon consultants, upgrade software and extend business hours. We will also be creating a retail and cosmetic center,” said Aucoin.

* TJH Designs Group, Inc. – Fort Mill, S.C.

TJH Designs Group is a manufacturer of unique portable storage cabinets with applications for holiday, back-to-school, emergency disasters and tailgating. The products are branded as “Thomie’s Totes™.” Funding from Michelin Development will enable Thomie Holloway to secure resources to build a manufacturing, sales and distribution center in South Carolina.

“I’m ecstatic to receive Michelin Development funding and guidance, which will give me an opportunity to develop a sustainable manufacturing operation and bring much needed resources and jobs to one of the most economically challenged small towns in America—a town in which the unemployment rate is greater than 17 percent,” stated Holloway.

Michelin continues to accept applications for additional low-interest loans. Applications can be submitted online at www.michelindevelopment.us. Once a business owner registers and receives a unique user login, they will be asked to outline business plans and strategies.

Michelin Development Upstate opened its Greenville office in September 2009. Carolina First makes and administers loans for the program and works with the Michelin Development Upstate steering committee, a group of local business and civic leaders, to review loan applications. Once an application has been approved by the steering committee, it undergoes normal financial due diligence by the bank. Loans are available from $10,000 to $100,000 and are funded in partnership with Michelin Development Co. and Carolina First.

Michelin Development Upstate loans are available to socially and economically disadvantaged small- and medium-sized businesses throughout the Upstate of South Carolina. To qualify for the program, companies must be based in one of the following Upstate counties: Abbeville, Anderson, Cherokee, Greenville, Greenwood, Laurens, Oconee, Pickens, Spartanburg and Union. Loans will have up to five year payment terms.

Dedicated to the improvement of sustainable mobility, Michelin designs, manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks, motorcycles and the space shuttle. The company also publishes travel guides, hotel and restaurant guides, maps and road atlases. Headquartered in Greenville, S.C., Michelin North America (www.michelin-us.com) employs more than 20,900 and operates 18 major manufacturing plants in 16 locations.