Endeavor Homes
Challenge
Endeavor Homes, Inc. supplies pre-manufactured housing components, trusses and lumber to owner-builders. A few years ago, the company was on the verge of closing and laying off all its local employees.
Solution
Eight employees pooled their funds, borrowed funds from a local bank, received gap financing from the City of Oroville and were able to purchase the business and operate it from a leased facility.
The City provided $150,000 in gap financing through its Small Business Revolving Loan Fund. This supplemented a $100,000 investment by the partners and a $150,000 bank loan.
Results
The business has thrived. They started with 13 permanent full-time jobs and 7 part-time jobs; today they and have 35 full-time employees. With financing from a local bank and the City of Oroville they were able to purchase property and build their own facility on Cal-Oak Road in 2004.
“These facilities have made a huge difference for us,” said Del Fleener, Endeavor’s general manager. “With our new warehouse, where we’ve also provided for additional future office space, we have greater access because of larger doors and additional capacity.” Endeavor Homes now also manufactures their own trusses and they have greatly expanded their sale of lumber.
The new site consists of a new office building (pictured), a large warehouse and a truss assembly building. The new facilities provided much greater efficiency also. “The City of Oroville has helped us from the very beginning. They have been very good to us, and business has been good,” stated Fleener.