Veteran’s Professional Success Leads to 2017 National Small Business Week VOSB of the Year (FL)
Returning home after being injured while serving in the U.S. Army in 1985, Paul Morrow began a career in air conditioning and refrigeration repair. To capitalize on the growing need for professional HVAC services in the Homestead residential market, Paul launched South Dade Air Conditioning and Refrigeration (SDAC) that same year. As South Florida became an in-demand lifestyle destination, Paul’s company expanded to serve customers throughout the Miami-Dade Metro Area, including Broward and Monroe counties. He later opened a second office in Selma, Alabama.
SDAC has expanded into facilities maintenance, building maintenance and operations, grounds maintenance and landscaping, major capital improvement projects, design/build construction work, renovation and remodeling, specialty remediation and more. The company is a participant in SBA’s 8(a) Business Development Program and a Veterans Administration-certified Service Disabled Veteran-Owned Small Business. Much of the company’s early expansion and capital access came from a $250,000 SBA loan.
While caring for his terminally ill mother in 2012, Paul delegated the management of the company to his deputies. SDAC’s previous sales of $2.1 million and net worth of $81,633 dwindled to the negative status by December 2014. He replaced the staff, hired a solid new team, and turned the deficit around by winning $4.5 million in new federal contracts in 2015. By 2016, sales had increased to $7.3 million. Paul mentors at-risk youth in economically disadvantaged areas of South Florida and Alabama. He also trains aspiring entrepreneurs and military veterans with small business ownership and HVAC trade skills.
To read more visit: https://www.miamiherald.com/news/business/biz-monday/article174829761.html
OSD CEO & Executive Director Glenn Banton is an appointed member of the Advisory Committee on Veteran Business Affairs (ACVBA) providing an independent source of advice and policy recommendations to the SBA administrator, SBA associate administrator for the Office of Veterans Business Development, Congress, the President and other U.S. policymakers on programs affecting veteran-owned small business from all segments of American society.