Signarama is the largest franchise sign company in the United States and produces a wide variety of promotional materials for its clients. From banners and company signage to wall paper and vinyl wrap for vehicles, clients can find it all at Signarama. The franchise began in 1986 in New York, and has since expanded to over 380 domestic locations and 700 locations worldwide.
James Pridgen is the proud new owner of a Signarama location in Raleigh, North Carolina. This location also operates as Design Element, a company that provides turnkey solutions for high-end branding. With Signarama and Design Element under the same roof, James is able to service clients with larger projects and in multiple states. In addition to this location, James also operates another retail location in Durham, North Carolina.
However, James wasn’t always in the signage business. He began his career as an accountant for small business owners, which helped him understand the ins and outs of small business. A few years ago, a friend who was in the sign industry encouraged James to join him. James made the leap to this new industry with a job in the Cayman Islands. During the COVID-19 pandemic, he transitioned back to Raleigh to work remotely. It was during this time that James wanted to become a small business owner and began his search to acquire a business. When he identified Signarama as the perfect opportunity, it was time to find the right financing.
While researching financing options online, James came across a few like-minded individuals on X (formerly known as Twitter) who were looking to open businesses and needed funding. Many of them ended up getting SBA loans, so James began to look for a lending institution. A loan broker who he met on X introduced him to Dennis Wagner, one of our experienced Business Development Officers. Through his partnership with James, Dennis was ultimately able to structure an SBA 7(a) loan that allowed him to acquire this Signarama location, with extra capital for closing costs and to preserve cash flow in the business.
James had this to say about his experience with Dennis and the team at FNB Small Business Finance:
Dennis was in my corner and facilitated the whole thing. He was a great resource for guiding me through the whole process. I would definitely recommend him to anyone looking to do an SBA loan!
Congratulations to James on achieving SBA financing for this business acquisition! We can’t wait to see how he takes Signarama and Design Element to new heights in the future.
