Located in South Carolina, Palmetto Specialty Transfer is a locally-owned moving and storage company that services the Greenville and Columbia area. As a full-service company, they specialize in residential and commercial relocation, packing, and storage. Palmetto Specialty Transfer also prioritizes the well-being of its employees by giving them generous time off to be with their families, which is rare in the moving industry.
Drew James, the new owner of Palmetto Specialty Transfer, has worked in the moving industry for most of his life. His first job was working under his dad in the family clothing business, which inspired Drew to own his own business in the future. Drew later worked as a mover at Palmetto Specialty Transfer for four years before transitioning to work in sales and management for other larger moving companies.
However, Drew knew he always wanted to come back to Palmetto Specialty Transfer. He connected with the previous owner about acquiring the company. When the owner agreed, Drew began to look for financing. He was working with a merger and acquisition company, and expressed interest in SBA lending. The company put him in touch with one of our experienced Business Development Officers, to achieve SBA financing. After learning more about the company and Drew’s business goals, our BDO was able to package an SBA 7(a) with a lower down payment and favorable terms. Drew was able to successfully acquire the business, all while maintaining proper cashflow.
Drew had this to say about his experience working with our BDO and the team at FNB Small Business Finance:
He was wonderful from start to finish! I looked at getting financing from other banks, but he was the only one who was able to deliver in the end. I can’t speak highly enough of the customer service from FNB, and I feel comfortable with them as a banking partner.
We enjoyed partnering with Drew to help him achieve this business acquisition! We wish him all the success in the world as he starts his journey as a small business owner.
