Savannah Metalworks, INC.

savmetalworks

SAVANNAH METALWORKS, INC.
LARRY DOWNS
102 ESTUS DRIVE
SAVANNAH, GA 31401
(912) 234-9220
E-MAIL: SAVMETAL@aol.com

Larry Downs began Savannah Metalworks, Inc. in 1985 after he recognized that the company for which he worked vastly underserved the marketplace for this industry. Using his knowledge of sheet metal fabrication, Larry began his own company to fill the void in the marketplace. Shortly after starting his business, Larry obtained a contract with a national company where Savannah Metalworks would provide all the sheet metal fabrication work that was needed for the national company to fulfill a contract with the U.S. Navy. This exclusive contract allowed Savannah Metalworks, Inc. to grow into a major competitor in the marketplace. So much so, that a larger facility was needed to produce the sheet metal. In 1997, Larry obtained an SBA 504 loan to construct a larger facility. The business currently resides in that location.

In mid 1998, the company was affected when the contract with the national company was slowly phased out due to the national company’s cessation of business with the U.S. Navy. The national company began to slow on their payments to Savannah Metalworks, thereby creating a cash flow problem for this small business. In order to fix this problem, Larry applied for, and received, an SBA 7(a) loan for working capital purposes. After receiving the SBA 7(a) loan, the business was able to “ride through” their transition into other markets without being negatively impacted.

Savannah Metalworks, with the SBA assistance, has been able to move into and maintain a strong position in the marketplace for sheet metal fabrication.