WV company uses SBA Export Working Capital Program to expand - WOWK 13 Charleston, Huntington WV News, Weather, Sports

WV company uses SBA Export Working Capital Program to expand

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Tucked away in the hills of Parkersburg Rolling Ridge Woods exports logs and lumber from the heart of the Appalachian region to countries all over the world.

Eugene Walters, the general manager, credits the Small Business Administration's Export Working Capital Program for keeping the company in business when the economy was in a recession.

"We are deeply tied to the housing market and when the housing market took a hit, business was tough for a few years," Walters said in the news release.

By freeing up valuable working capital, Walters said he is able to build the business and process additional international orders.

With the addition of exporting, Rolling Ridge Woods weathered the housing market downfall and was able to expand.

When the company started out in 2002, 90 percent of their business was domestic. The company now does 60 percent of their business in direct export, 10 to 15 percent in indirect export, and the remaining in domestic business.

 "Exporting is a great option for small businesses, like Rolling Ridge Woods, who are looking to increase sales and profits," said Regional Administrator Natalia Olson-Urtecho. "The SBA provides counseling, training, and capital to help support small business in exporting opportunities."