TRK Attachments, a St. Catharines, Ontario company that specializes in the manufacturing of quick couplers and heavy equipment attachments, had been experiencing continued success since its establishment in 2010 by husband-and-wife team Thomas and Brigitte Knapp. But the Knapps faced a dilemma many growing companies share: they needed working capital to increase inventory and leased space, and to purchase equipment to facilitate further growth.
The Business Development Bank of Canada (BDC) was there to help with a three-tiered solution specifically tailored to the needs of the company: a Market XpansionTM Loan to replenish working capital, equipment line financing, and technology financing for the purchase of new computers and CAD software. BDC's assistance allowed TRK to grow on many levels: the Knapps hired more employees, including a designer, expanded from two welding bays to four, and purchased a Computer Numerical Control (CNC) machine allowing for more in-house cutting capability and thus lowering costs.
With help from BDC, TRK is on a solid growth path, for now and the future. TRK's team of ten, including machinists (all certified tradespeople) and office employees, takes great pride in offering superior customer service and excellent craftsmanship with their heavy equipment attachment product line.
Says TRK owner and business manager Brigitte Knapp: "BDC' staff was very helpful and the turnaround very quick. We would not hesitate to recommend BDC to a growing business in need of professional advice and financing."