American Made, Inc. was founded in 1983 as the premier manufacturer of rigid polymer lining systems for the transportation industry. The company broadened its range in 1990 by entering the composite market. American Made is located in Ambridge, Beaver County, employs approximately 35 people and has annual sales of $15 million.
American Made, Inc. has an established relationship with Catalyst Connection, having worked together on a variety of projects, including quality systems, lean manufacturing and workforce development. In 1997, the company again approached Catalyst Connection for assistance through the Manufacturing Technology Loan Fund (MTLF). Their goal was to receive funding that would enable the purchase of laminating equipment, necessary to process glass-reinforced thermoplastic fabrics.
By providing access to MTLF, Catalyst Connection helps southwestern Pennsylvania’s small- and medium-sized manufacturers obtain the financial assistance needed to purchase technology that enhances productivity and quality, improves competitiveness and strengthens their bottom lines. Our advisors prepare companies for the fund’s application process, offer education on the terms and conditions of the loan and review allowable uses of funds, including equipment purchases and upgrades or the purchase of capital equipment such as computer hardware and software, computer-aided design (CAD), computer-aided manufacturing (CAM) and computer numerically controlled (CNC) equipment. Catalyst Connection worked with the leadership team at American Made to review the best available options to obtain capital for the project. Upon reviewing the recommendations, American Made selected the MTLF program. Catalyst Connection guided the company through the application process, which included gathering business and management histories, company financial statements, tax returns, accounts payable and receivable, income statements and cash flow projections for review. Catalyst Connection conducted the necessary due diligence and approved a $150,000 loan at a five percent interest rate. The loan leveraged an additional $150,000 and allowed American Made to purchase the laminating equipment while reinvesting their profits in the company to yield additional business growth.
American Made purchased a laminator and its accompanying equipment. Through this purchase, the company was immediately able to fill orders already in place for the automotive market. American Made has increased its output of laminate panels by five million pounds per year, contributing approximately $100,000 in additional revenue to the company’s bottom line.