Recovery Act Helps South Carolina Exporter

FLORENCE, S.C. – Following an overseas career, Dan Vander Meer realized an opportunity to start his own small business – Dutchman Global, an export company supplying heavy machinery to earthmoving and mining industries – in South Carolina.

After just over four years in business, the six-employee company is a qualified success, selling over 60 makes of equipment across the globe.

But in the current economic climate, capital can be hard to come by for a small business, even one as successful as Dutchman Global. This is where the SBA and the Recovery Act  helped.

In April 2009, Dan was approved for an SBA Export Line of Credit for $300,000 from Carolina First Bank. Under the Recovery Act, the SBA backed 90 percent of the loan, and with the temporary elimination of guaranty fees, the company has saved thousands of dollars.

“We were watching President Obama on YouTube in the office. We saw his small business speech. Everyone in the office was in tears. Obama finished the speech and the phone rings. It was Carolina First telling me that the loan was approved. It was like divine intervention!”

But even before the recession, small business capital could be hard to come by. The SBA helped then, too.

In 2007, Dutchman Global was approved for two SBA revolving lines of credit for exports from BB&T.

“I found it so easy – it was incredible,” Dan says.

In fact, with a sale hanging in the balance for Dutchman Global, an SBA loan officer came in from vacation to work on the company’s loan guaranty application. One week later, Dutchman Global got the approval notification.

“Where else do you get dedication like that?” Dan says. “There are people who care and banks that’ll work with you.”