| My Mama's Sweet Potato Pie Company |
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marvin...$50 THE WALL STREET JOURNAL Friday, February 19, 1993 Marvin Swain in 1986 founded My Mama's Sweet Potato Pie Co. with just $5O-and his mother's recipe-in Columbus, Ohio. He began by peddling pies from the trunk of his car. When local stores started carrying his product, he built his credit one step at a time. First. Mr. Swain borrowed $1,000 securing the loan with a $1,000 certificate of deposit that he purchased the same day. Then, as demand continued to grow, he went to the bank again and borrowed first $8,000 and then $7,000 over a six month period. Today, the company In a year sells $250,000 of pies mainly in four major supermarkets in Ohio and Michigan. And the last time Mr. Swain went to his banker-to borrow working capital to increase production during the holiday season to 1,800 pies a week-his lender approved a $15,000 loan In a couple of hours.  "I wasn't afraid to take a risk," he says of his successful relations with lenders. "I was willing to work and sacrifice to prove myself. All you're doing anyway is proving that you're trustworthy. You're going to the bank and saying, 'Are you going to trust me with your money or not?' " For additional information about My Mama's products, distributing, and marketing programs please contact Marvin Swain Office: 614.261.7882 Cell: 614.804.1385 next |