Since launching Eco-Baggeez, LLC, in 2019, Elizabeth (Beth) Race’s invention has received international acclaim, with sales growing consistently every year. For Beth, though, knowing that she makes it easier for people to do something good for people and the planet may be the most satisfying outcome.
Here’s how two loans from Pursuit are helping Beth prepare for new opportunities, including significant expansion to markets throughout the U.S. and beyond.
A “light-bulb moment” at work
While working in her Central New York community’s school system, Beth had the ‘aha’ moment that led to Eco-Baggeez.
“Between the lunches I packed for my own family and the kids and adults I saw every day at work, I realized that we were using a lot of plastic sandwich bags,” Beth says. “When I dug a little deeper, I found that in the U.S. households alone, we throw away 97 billion of them every year. It was astounding and I knew there had to be a way to do better.”
For Beth, “better” wasn’t simply an alternative to plastic – those already existed, such as glass containers and wax-coated wraps. She says, “Those are better than throwing out plastic bags every day, but I knew they weren’t a practical and easy solution for busy families who don’t have the time to wash, dry, and deal with them.”
A decade-long endeavor
That led Beth on a decade-long research-and-development quest to create something better: A sandwich bag that is compostable, sustainably made, resealable, and easy to use. The result – Eco-Baggeez – are made of a sustainable paper that absorbs moisture and grease and, unlike her competitors, can be sealed and resealed to keep food fresh and lunchboxes clean.
Her product is so exceptional that it was awarded a utility patent by the U.S. Patent & Trademark Office. It has also won numerous awards, including the prestigious FuzeHub/Jeff Lawrence Innovation Fund Award. Other honors include an invitation to present at EarthX 2022, an international pitch competition for eco-forward businesses. There, Eco-Baggeez placed fourth out of 186 competitors – an astonishing achievement for Beth’s product and business.
A pandemic setback, then full-steam ahead
While Beth’s goal of doing something better for the planet is achieved with her product, her goal to do good in her community was first accomplished when she contracted with The Arc of Madison/Cortland (NY) – a non-profit that provides services and opportunities to people with developmental and other disabilities. There, they produced and packaged Eco-Baggeez in conjunction with staff and contracted team members.
Shortly after launching, the pandemic hit. With schools closed and people working from home, Beth’s remarkable product wasn’t needed in the way she had envisioned, so she provided the bags to school districts and food-outreach programs for their use instead. Once life returned to a more normal routine, Eco-Baggeez began to take off.
Today, Eco-Baggeez are produced in conjunction with Human Technologies Corp in Utica, NY, from materials sourced in the U.S. They’re available in Wegmans and online through ecommerce sites like Amazon, as well as a growing list of retailers.
Leveraging connections
“I participate in so many conferences and innovation summits,” Beth says. “I make a lot of great connections and, as the only full-time person in my business, they’ve also been an effective part of my marketing strategy.” Her commitment and connections have paid off in many ways, including helping her secure financing to bring Eco-Baggeez sales to the next level.
“I learned about Pursuit when I met Louis Carroll at a Minority- and Women-Owned Business summit in Syracuse,” Beth explains. Louis is a business development officer with Pursuit and he helped Beth secure two loans to support growth.
“Eco-Baggeez sales are growing in every sector,” she says, including business-to-consumer, business-to-business, and business-to-government. That means that she needed to increase supplies and inventory to meet growing demand.
Working with Louis and Pursuit, Beth secured an SBA Microloan and a New York Forward Loan Fund 2, both of which she’s using to increase inventory and distribution, as well as to bring an employee on board.
“After reviewing loan options with Louis, we realized that Eco-Baggeez qualified for several opportunities,” Beth says. “I applied for and received two loans at the same time.”
About the loan process, Beth admits, “I was expecting it to be intimidating, but instead, Pursuit makes you feel welcome because they truly understand their potential borrowers. Louis and my entire Pursuit team made the process easy.”
Pursuit’s support goes beyond financing
As a loan recipient with Pursuit, Beth is eligible for additional Business Advisory Services, which she’s used for marketing and financial-management assistance so far.
“The loans are an enormous help,” Beth says, “and the additional services have been incredible. The Business Advisory Services team helped me redesign Eco-Baggeez to create a new, uniform brand voice. I’ve also learned how to leverage email marketing and the team helped me create templates and automate email blasts.”
She’s also working with Alek Marfisi of Upwind Strategies on financial management.
“Alek is brilliant, and I learn so much every time we talk. He helps me understand financial aspects that I wasn’t aware of and to create a strategic budget that optimizes resources. His help has been hands-on and tailored to my business, while also being accessible and approachable.”
She continues, saying, “Because I’ve run the business on my own, I’ve often felt really alone through all of this, but Pursuit changed that, helping me feel more connected to business processes and to the entrepreneurial ecosphere, which has made such a difference for me.”
Pursuit supports financing and long-term success
Beth offers advice to other entrepreneurs, saying, “Pursuit is definitely a lender to keep on your list. They have great loan options and they offer so much more, including business advisory services. So many good things have come from them and I highly recommend that anyone working with Pursuit take advantage of them. They’ve been a game-changer for me.”
When you need financing to bring your dreams to their potential, Pursuit is ready to help. We have loans and a line of credit available from $10,000 to $5.5 million for businesses in New York, New Jersey, Pennsylvania, Connecticut, Nevada, Illinois, and Washington.
Contact us to learn more.
