We are proud to announce that two NYBDC and affiliate The 504 Company clients have received Small Business Person of the Year Awards from the U.S. Small Business Administration. Ethan Wendle and Matthew Chverchko of Diamondback Automotive Accessories have received the Small Business Person of the Year award from U.S. Small Business Administration, winning the honor in both the Pittsburgh district and for the State of Pennsylvania. Additionally, Chris Martell of Druthers Brewing Company has received the same award for the Syracuse district.
From Penn State Dorm Room to Statewide Recognition
The owners of Diamondback Automotive Accessories were nominated by Ryan Lockhart, vice president at The 504 Company. In its search for financing to build a new facility, DiamondBack was introduced to the SBA 504 loan program through The 504 Company and was provided nearly $1.5 million in SBA 504 funding to purchase the land and fuel construction.
Matt and Ethan started their company in a dorm room while students at Penn State. Today, DiamondBack’s success radiates throughout the Philipsburg community, bringing in money from outside the area to truly invest in the small, central Pennsylvania town. The company has brought more than 55 living wage jobs to the Philipsburg area, which struggles with a median family income that is 24% lower than Pennsylvania’s average.
“Wendle and Chverchko saw themselves as the solution for pickup truck drivers around the world,” said SBA Western Pennsylvania District Director Dr. Kelly Hunt. “It’s incredible that a classroom project led to a viable company using SBA’s job-creation 504 loan program to help grow rural Philipsburg with quality employment opportunities.”
Learn more about Diamondback’s award and read the full SBA press release here.
Local Brewery Recognized for Rapid Growth
Jim Conroy, Regional President for NYBDC and The 504 Company, was eager to nominate Chris Martell of Druthers Brewing Company. “Chris Martell serves as a shining example of an entrepreneur that has pulled a business up by its bootstraps using creativity, commitment and business savvy,” said Jim. “He is a recognized leader in both the entrepreneurial and craft brewing communities, and we are proud to further celebrate his accomplishments with the nomination and subsequently the award.”
Chris has turned to NYBDC and SBA loans multiple times to fund Druthers’ rapid expansion and growth. After launching a single Druthers’ location in Saratoga Springs, NY, Chris grew Druthers into one of the Capital Region’s most sought-after dining experiences with additional locations in Albany and Schenectady, NY. Druthers is now a major employer in the Capital Region, with more than 200 staff on board on an annual basis.
Learn more about Druthers’s award and read the full SBA press release here.