Al Tech Loan Success Stories
David and Anna Bourgeois began their business in 1998 with a focus on audio recording and production and professional communication training. White Lake Music & Post, and its affiliate, Creative Voice Development Group, had grown steadily for over 10 years when in 2010 they exceeded the capacity of their existing space and could not accommodate additional business for their clients.
After identifying a property in Colonie that would allow for adequate business expansion, the company needed additional funding to supplement the first mortgage financing lined up with a local bank. The Al Tech Fund approved their request for an additional loan to finance both the necessary renovations at the property and the newly installed state-of-the-art audio equipment.
The result was an industry-recognized recording studio employing 18 people, providing services to both regional businesses and national clients in entertainment and media, all housed in an updated and modern facility. Since the expansion, David and Anna launched Bridge Road Entertainment, an artist development and management company. In December 2018, Bridge Road music artists Jocelyn and Chris Arndt broke into The Billboard Triple A Top 40 with their single, “Red Stops Traffic.”
“As small business owners, we’ve always invested first in our team in an effort to ensure continuity and accountability in the services we provide. Remaining true to that mission can limit profitability and require flexibility when making major investments. Al Tech funding provided an opportunity to grow in a manner that did not compromise our goals as a business. We are truly grateful.”
As an electrical services contractor with over 30 years of experience in the residential and commercial market, Ambrose Electric was in the midst of a leadership and ownership transition back in 2013. Current owner Bob Desormeau had negotiated a contract to acquire the business and needed to raise the necessary funding to complete the transaction to ensure continued operations.
After securing some credit from a local bank, Mr. Desormeau still needed additional financing to complete the terms of the purchase contract. Using the Al Tech Loan Fund, he was able to satisfy all of the terms of the contract and take over operations.
Says Desormeau “The Al Tech Loan Fund has been a great resource for me and my company and they worked seamlessly with my primary lender when I needed additional Capital. I’m sure many other Albany County based businesses could benefit from their services. “
Now more than 5 years since acquiring Ambrose Electric, the new owner has steered the business toward significant growth and has increased the local workforce to 23 full-time employees. The company has grown to become the area’s only premier level dealer for Generac whole-house generators while continuing to remain a trusted commercial electrician to businesses throughout the Capital Region.
For more information on the Al Tech Loan Fund, contact John Skrobela | 518.431.1423.