Sway-A-Way, Inc. has been in business since 1988 manufacturing high performance suspension products for cars, trucks, off road race cars and circle track cars.
They also design, test and manufacture suspension products in house. The company’s engineering and corporate offices are located in Chatsworth but their manufacturing, inventory and shipping functions were located in San Jose, CA.
Due to a slow economy and a decrease in sales, Brian Skipper, President and CEO of Sway-A-Way, Inc. determined that it was necessary to combine the two facilities in Chatsworth, CA. However, with many of their account holder behind in payments finding someone to finance this move became more difficult than Brian had imagined.
When Sway-A-Way learned that their current lender was no longer offering financing to any business in California – they came to VEDC where they received a small business loan through the Goldman Sachs 10,000 Small Businesses loan program.
“The VEDC was able to provide critical permanent replacement financing for my business. Without this financing, it would have been difficult for me to continue operations in this difficult economy,” said Brian Skipper. “I am now able to work on improving operations instead of looking for financing. Thank you to all at the VEDC.”
Thanks to the financial support they received from VEDC and the Goldman Sachs 10,000 Small Businesses program, Sway-A-Way. Inc. successfully combined their corporate and manufacturing facilities in the Chatsworth area. This restructuring has allowed them to stay in businesses and retain jobs as well as creating 10 new jobs in the San Fernando Valley.