Cousins Daniel and Kagan Brainard are two young entrepreneurs who are working to make a difference in their lives and their community. Their most recent venture is the purchase of Jumping Jacks, LLC.
The Pulaski County businessmen have been buying businesses and renovating them for some time. When the locally owned inflatable business came open for sale, the Brainards jumped on it, so to speak.
Jumping Jacks, LLC was incorporated in 2008 and has had three previous owners. The business can be a challenging one, they said. The Brainards felt ready for the challenge, so they put in an offer on the business.
But before they signed off on the deal, they contacted the small business professionals at Southeast Kentucky Economic Development Corporation (SKED) to ensure they were taking the right steps in the business purchase.
SKED helped the Brainards in a number of ways, but it was the nonprofit economic development’s lending programs that gave the cousins the financial confidence to complete the sale.
SKED’s U.S. Small Business Administration (SBA) Micro Loan program and its U.S. Department of the Treasury Community Development Financial Institution Fund (CDFI) are designed specifically to give entrepreneurs the firm footing and technical assistance they need to purchase new businesses and equipment.
The Brainards had heard about SKED and its services and decided to give the 33-year-old nonprofit lender a shot.
“We had an excellent experience working with SKED and getting to learn more about how their program works,” Daniel said. “Jumping Jacks, LLC is blessed to be able to continue servicing this part of our state, and we are glad SKED could be a part of that.”
The Brainards have spent the last few months traveling around the region taking their game rental (inflatable) business to individual parties, church and school events, festivals and corporate events.
SKED’s mission is to partner with businesses and communities to bring jobs and economic development to at 45-county region of Kentucky. Its loan funds are made possible through partnerships with the U.S. Department of Agriculture (USDA) Rural Development, CDFI and the SBA.
SKED Business Loan Officer Karen Minton worked with the Brainards to help complete the business’ funding.
“Daniel and Jesse (Brainard) are two young men with a passion for business and meeting their customers’ needs,” Minton said. “We were glad to help them get the financing they needed to purchase this business and continue their success in the region.”
If you know a small business owner in need of working capital or funds to purchase equipment or building improvements, contact SKED at (606) 677-6100 or email at kminton@skedcorp.com.