It’s no secret that business is strong in Cobb County. Home to several Fortune 500 corporate offices and headquarters including The Home Depot, Genuine Parts Company, Lockheed Martin and GE, big businesses have taken advantage of all that the metro area has to offer. But it’s not only the big dogs who benefit from living and working in Cobb: According to the Kauffman Foundation, in 2012, Georgia had the highest entrepreneurial activity as well as the largest increase in entrepreneurial activity. NerdWallet also voted Atlanta the No. 1 spot on their “Best Cities to Start a Business” list, which debuted in April.

For businesses to thrive they must have equally strong financing options, and Cobb’s banks and credit unions work to provide local businesses with the best services to facilitate success. When it comes to starting and remaining a successful business, there are many variables to consider, and from loans and deposit accounts to merchant services and even business plans, Cobb’s financial institutions have you covered.

In the Beginning

According to Rodney Grizzle, assistant vice president of member business lending at LGE Community Credit Union, being appropriately capitalized during the first three years of operation is key for growing—or beginning—a company. A common misconception in recent years is that loans are harder to get in today’s economy, but as long as you approach a lender with a solid business plan and a strong understanding of what it takes to run a business in your field, you’re on the right track.

“There is no price tag that can be placed on the value of having a well-written business plan,” says LGE Retail Business Analyst Heather Bedell. “It will not only help you as the business owner to develop and focus your own energy, but a well-written plan will communicate your vision to others in the financial world who can help your business succeed by meeting its goals along the way.”

Each customer will have their own unique needs and financial hurdles to overcome, and James Pope, president and CEO of KeyWorth Bank, advises them to turn to their banker. “We encourage any applicant to put together a three-year business plan and present that to the banker and let them review it,” he says. “If there are banking services needed, whether it be deposit accounts or loans, then we will work with the borrower to structure and design those kinds of products that will help them with their business venture. I think a good plan is the start.”

Options for Small Businesses

The financial services industry is evolving, which is creating more innovative options tailor-made for small businesses, according to Grizzle. “Small businesses should talk to their lenders or the financial institutions to learn about all the financial tools available to them, and then select only those that will meet their specific needs and make sense for their business,” he says. “Some options may include traditional lines of credit, commercial mortgages and short-term installment loans.”

Small Business Association (SBA) loans provide attractive options for small business owners and remain an avenue most bankers recommend to all their business customers. For example, if a project is $1 million, the borrower is required to put down 10 percent and they can finance 90 percent, which is divided such that 50 percent is done by the bank and 40 is done by the SBA. This is great for both bank and borrower and gives attractive terms without requiring borrowers to put a large amount of money down.

Of course, not every type of business or business owner will need the same type of loan, and several other options exist to fit individual needs. “The 7A is not an SBA-funded loan, but a guaranteed loan,” explains Pope. “The bank makes the loan and the SBA guarantees generally 75 percent of any loss, should the loan incur a loss. Those are very attractive especially when the borrower is starting out or is a little weaker financially than the traditional underwriting that the bank would want. The guarantee of the SBA helps to mitigate some of that financial weakness and would enable the bank to do a loan that they otherwise might not be able to do.”

In addition to the SBA 7A and 504 programs, “There is also a similar program through the Georgia Department of Community Affairs that is administered very well but it is subject to eligibility of the local community,” says Mike Henderson, senior vice president and president of the Cobb division at Metro Bank. “We have had very good results with both.” He adds that underwriting departments look at cash flow and long-term payment abilities, so having good financial reporting allows everything to go smoothly.

Preparing Financially

For new and aspiring entrepreneurs, starting a business requires a lot of preparation. Everything from your personal finances to contingency plans must be taken into consideration. “A good personal credit history is a must,” says Terri Guthrie, chief lending officer of First Landmark Bank. “Even though you may be looking for a business loan, banks will look at your personal financial reputation and habits in conjunction with your business plan and company financials.” She also advises new business owners to be prepared for cash up-front requirements and to personally guarantee any loans you may need. “Have a very good capital position or access to capital. Cash is king,” adds Henderson.

While it is standard to prepare for the worst, businesses should also prepare for growth and all it involves. With expansion comes a need for further resources and, as a result, more capital. “Businesses should understand the effect revenues have on cash flow,” advises Grizzle. “Most business owners equate sales to profitability, however, increased sales require additional capital to support the sales growth. Projecting the cash flow cycle on a new product or service is essential to the financial health of any business.”

In Market President Jeff Higginbotham’s experience, business owners need to keep proper capitalization in mind. “We help clients with their capital structures—either advising on short-term credit facilities that are needed—or if a company is over capitalized, ideas on how to put that capital to work for them,” he says. Interest risk protection is another topic that needs to be evaluated, and often re-evaluated, whenever loans are involved.

Pope encourages developing a three-year forecast for your business to use as a resource for measuring progress. “Knowledgeable, experienced bankers can review those budgets and forecasts and give feedback to customers,” says Pope. “We serve as a sounding board.”

Explore Your Options

As technology continues to rapidly evolve, banks and credit unions have more options and services to offer business owners that make the day-to-day much easier. At KeyWorth, Pope tells business customers to take advantages of their remote deposit capture scanners, which are placed in the business to scan checks from customers.  “It’s very efficient, very convenient for that business—especially small businesses that just can’t take the time to leave their business and take an hour or two and come to the bank every day,” says Pope.

Sylvia Hamby of Community Bank of the South is proud to offer customers lines of credit for cash flow purposes as well as facility construction loans to help them tackle whatever situation should arise in their business lives. “We can assist with business succession plans and ownership buyouts. Most importantly, each of our business customers has a local account officer that provides personal attention, advice and assistance in managing their business,” she says.

As all business owners know, time is money. “Businesses with higher level electronic banking needs and conveniences often select other treasury management services such as remote deposit capture, ACH electronic transfers of funds, wire transfers, online bill payment and electronic bank statements,” says Guthrie. “Each of these offer time- and money-saving opportunities—essential to small business owners.”

As a business owner, it is important to have a good relationship with your financial institution in the best interest of your business and investments. “Over the past several years, the economic conditions have created an opportunity for viable companies to obtain financing,” says Grizzle. “A relationship approach with a financial institution is a valuable resource for your business opportunities.” If you’ve been thinking about starting your own business or know someone who has harbored that dream for a long time, Cobb County has ample resources to make that vision a reality. So harness your skill, craft or trade, map out your business plan and assemble your team of trusted partners—which should definitely include your finacial institution.

Cobb County is on the map thanks to forward-thinking entrepreneurs who make everything from gelato to beer to cleaning solutions. Because of the good business climate in the county and its proximity to transportation arteries, these businesses make Cobb the epicenter for executives who have brought their ideas to fruition.

Taking a Brand National

Citrus Magic is Kennesaw’s Beaumont Products’ flagship brand. CEO Hank Picken was “creative shopping” at a hardware store in downtown Kennesaw in the early 1990s, when he spotted the Citrus Magic cleaning product on the shelf. With a background in consumer products and marketing, Picken knew the product had potential. “I thought it would be a good product to take national, so I called the company that was distributing it in Peachtree City and offered to buy the brand,” he says. “It was good timing because we bought the brand for $1 million and have turned it into a $30 million company today.”

The company’s big break into national marketing came a couple of years later when Citrus Magic was featured on QVC, with Picken’s wife Cheryl as guest host and spokesperson. “QVC approached us at a trade show that we attended in Chicago, and that led to Cheryl making 80 to 85 appearances on QVC,” Picken says. Today, Citrus Magic is sold by major retailers in the United States, including Walmart, Target, Publix, Kroger and various hardware chains, such as Ace and True Value.

Over the years, Beaumont Products has acquired another half-dozen products and taken them to market from its facility in Kennesaw. “Cobb County has been a great location for us,” Picken says. “Being close to I-75 has made a difference (because of the transportation network) and the City of Kennesaw has been very supportive to work with us as we’ve grown.”

Picken also attributes the company’s success to the workforce in Cobb. “Our third hire came to us from the Tommy Nobis Center, and we continue to find great employees there,” he says. “We also have hired a number of interns from Kennesaw State University.” Picken serves as a visiting professor at the business school at KSU.

Sweet Success

From a small gelateria in Dallas, Texas, Joshua Hochschuler founded Talenti Gelato & Sorbetto, which is now based in Marietta. After learning about old-style gelato processes while he worked in Buenos Aires, Argentina, he moved back to his hometown of Dallas and created hand-crafted gelatos sold from a single location to gourmet markets and local restaurants. By 2005, his brand was so popular that he closed the gelateria and shifted his business focus to making gelato for high-end retailers and restaurants.

Looking for partners to assist him with growing his premium brand, in 2008 Hochschuler connected with Steve Gill and Eddie Phillips, co-founders of Belvedere and Chopin vodkas. The two had successfully created a new category of luxury vodkas, which they later sold to the luxury goods company Moet Hennessy Louis Vuitton. Gill and Phillips helped Hochschuler enhanced the Talenti brand, taking it to national grocery stores. The company moved its plant to Marietta this year.

“Moving our plant to Marietta in 2013 would be an opportunity to continue to grow the Talenti brand, and so far that has proven to be true,” says Talenti CEO Gill. “We originally chose to move to Cobb County for its central location and proximity to Talenti’s biggest Northeast and Southeast markets. Along the way, we’ve found that Cobb County is a great place for the Talenti plant, as it has provided us with a well trained, productive workforce, and terrific and supportive local authorities.”

Tapping into Creativity

Red Hare Brewery in Marietta and Burnt Hickory Brewery in Kennesaw both produce unique hand-crafted beers carefully created by their founders.

Roger Davis started out in 2009 as a home brewer, crafting beers and creating recipes in his basement. Soon friends bragged about the beer he and friend Bobby Thomas were producing, and so the two founded Red Hare Brewery and opened for business on Labor Day 2011.

Today they’re located in an 11,000-square-foot warehouse near I-75 and Red Hare’s distinct brews are available in pubs and restaurants in Marietta, Decatur and Atlanta. The company’s flagship brew is Long Day Lager. Along with Gangway IPA, they are the first craft beers in the state to be offered in 12-ounce cans.

“It was a natural to choose Cobb County and our hometown of Marietta,” says Davis. “We’re close to my house and we’re close to the interstate and excellent transportation. And the space we found was conducive for establishing a brewery.” Red Hare products are distributed through 750 bars and restaurants in Georgia and South Carolina, and they are also available in grocery and beverage stores. This year, Red Hare will produce approximately 155,000 gallons of beer.

Scott Hedeen was an avid home brewer for nearly 20 years when he decided to step it up a notch by creating Burnt Hickory Brewery in Kennesaw. He has capitalized on the Civil War theme by choosing descriptive names like Ezekiel’s Wheel Pale Ale, his flagship, plus Cannon Dragger IPA and Big Shanty Graham Cracker Stout. He also brews seasonal styles.

Buy Local

Marion Savic’s new store, The Local Exchange, offers a collection of Cobb-based, Georgia-based and regional products all in one location. Opened in early September at 130 South Park Square in downtown Marietta, the store offers local foods, art, merchandise, books by local authors and artisan beers from area brewers. The Local Exchange will also be the pick-up site for a local community-supported agriculture food cooperative.

“There’s not a general store or a grocery on the Marietta Square, so our goal is to provide residents and visitors with a source for locally produced, useful and sought-after goods,” Savic says. “It will also be a fun shopping experience.”

She’ll be offering Pure Bliss organic products, foods from Bernhard’s and McEntyre’s bakeries in Smyrna, sausages from Patak’s Meats in Powder Springs, items from Georgia Spice Company in Marietta and prepared foods from Simply Fresh in East Cobb.

“You know, I’ve always wanted to have a store like this,” she says. “My grandfather had a grocery store, and I’m just carrying on the tradition with healthy and fresh foods.”

Here’s a listing of some products with Cobb County connections:

• Elf on the Shelf: children’s books, elfontheshelf.com, Marietta
• Kenny’s Great Pies: key lime, mango and lemon pies, kennysusa.com, Smyrna
• Talenti Gelato & Sorbetto: gelato and premium ice cream, talentigelato.com, Marietta
• Citrus Magic, Beaumont Products: beaumontproducts.com, Kennesaw
• Burnt Hickory Brewery: craft beer, burnthickorybrewery.com, Kennesaw
• Red Hare Brewery: craft beer, redharebrewery.com, Marietta