Donald: My partner and I started our frim decades ago with just the two of us, all self-funded. We had no clients at first and rented an inexpensive space in an historic building. We grew gradually, adding a person or two a year. When our staff reached about 25, we bought an historic church and renovated it, converting into our office. To do this we borrowed money from a local bank. We continued to grow, eventually reaching 75 employees, and bought a larger building, this time through an LLC consisting of the three senior-most partners. We borrowed for the building and its renovation and furnishings and then established a line of credit with the bank to purchase such things as an updated server and computers, etc. We always generated enough income to pay off the loans in a timely manner. I suppose we could have taken out an SBA business start-up loan or relied on some similar local program, but we didn't. From what I know of the other firms in our area (Salt Lake City, Utah) they got themselves going in the same way.
Allen D. Roberts, FAIA
Allen Roberts
Senior Principal
CRSA
Architecture • Planning • Design
649 East South Temple
Salt Lake City, Utah 84102
801-746-6806 Direct
801-635-6918 Mobile
801-355-5915 Main Ext. 106
801-355-9885 Fax
www.crsa-us.com
allen@crsa-us.com