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Success Story: CM Solar Electric
In 2012, after 15 years of working as a solar and electrical installer, Carlos Melendez left to start his own company. CM Solar Electric provides solar and electric services to residential and commercial customers throughout San Diego County. Learn more about them at www.CMSolarElectric.com.
Use of Capital Infusion Funds
With its new financial leverage, the company was able to purchase solar panels far in advance at steeply discounted rates compared to its previous “Just In Time” purchasing. The resulting cost reductions and greatly increased profitability were catalysts to the company’s $1.5M sales increase and the creation of 10 new jobs.
Areas of Assistance
Obtained Financing
Loan Applications
Credit Repair
Cash Flow Analysis
Strategic Planning
Economic Impact
Sales Increase: $1.5M
Capital Infusion: $70,000
Jobs Created: 10
Location
San Diego, CA 92126
“My company has been completely transformed with the incredible support and guidance I received from the SBDC. In just two years, we’ve grown from a small, marginally profitable business into a strong, stable, highly profitable $3M company, and counting.”
