Mike and his father (Michael Charlie Sr) have been running a part-time hauling business for almost 3 years. They provide hauling services as well as help with small moves and landscaping. They have primarily been able to do this by borrowing a friend’s truck. Owning a larger truck would allow them to make it a full-time endeavor. Mike applied for an expansion loan to assist with the purchase of a larger truck.
Mike and his father have been working on this business for close to 3 years and have gained the relevant experience. Their business is also well known within their community and has a positive reputation.
Over the last 3 years Mike has grown his clientele and has established a good reputation within the Aboriginal community. He identified that a larger truck that would enable him to take larger jobs as necessary for the growth of the business. This has proven to be true as the larger truck has enabled him to take other large jobs.