“I am deeply grateful for your assistance which helped our company protect jobs and navigate a complex growth path.” – John Joseph, Business Owner
John Joseph, CEO of JAI Software first approached Business Advisor Brad Swanson in June 2014 seeking assistance with the growth strategy for his business. JAI Software specializes in software development and technical services to administer residential energy-efficiency programs and other social service programs funded by governments, non-profits, and utilities.
With a promising new SaaS (Software as a Service) product in the Beta stage of implementation and R&D in full swing, the business needed increased capital to succeed and sought help accessing capital funding.
Joseph and Swanson worked through several iterations of a business plan. They worked extensively on the plan’s clarity, flow and financial statements. In addition, the pair worked on plan presentation and pitching techniques. Swanson also connected Joseph with local Angel and Venture Capital experts for advice and coaching. Through these connections and services, it was determined that debt was the best funding option at this stage in the JAI growth process. JAI’s plan was presented to Coastal Enterprises, Inc. (CEI), a local Community Development Financial Institution (CDFI), and Joseph was awarded $150,000 in working capital. The plan also helped JAI Software receive a $230,000 Development Loan from Maine Technology Institute.
“I am deeply grateful for your assistance which helped our company protect jobs and navigate a complex growth path. When we transitioned from local customized software development and service to developing a national off-the-shelf software product, we knew we would need professional and financial assistance….I reached out to you at the SBDC as my first point of contact. We have come a long way since we first contacted you and appreciate your invaluable help.” – John Joseph, Business Owner
Visit their website for more info on what this growing company is up to!