Page 8 - People Inc. Annual Report 2018
P. 8

Supporting
Small
Business and
Innovation
Throughout
Virginia
In 2008, US Army veteran Tony Fox founded Aqua Tech, a pool repair service specializing in leak detection, wrinkle removal,
and step repair. Four years later, Tony contacted People Incorporated’s Community Economic Development services to apply for a loan to buy much needed equipment for his growing business. The loan included Small Business Administration and Page County Community Development Block Grant funds, which enabled Tony to purchase among other things, a leak detection device that instantly locates leaks, resulting in faster and more accurate repairs.
Tony not only paid back the loan this year, but he recently reported that, “AquaTech is as busy as we can handle. Our new equipment provides faster service, satis ed customers, and saves water, which helps the environment.”
Today, Tony has a long-term expansion plan in place for AquaTech, which now services both residential and commercial pools, and employs four technicians.
SMALL BUSINESS LENDING AND SUPPORT
People Incorporated offers small business owners and entrepreneurs opportunities they might not otherwise receive
at most  nancial institutions. People Incorporated is a Small Business Administration micro lender. In addition to loans, People Incorporated also provides business training workshops, credit counseling, and one-on-one technical assistance for low-income residents and distressed communities throughout our service area. By providing the tools and funding entrepreneurs need to start, promote, and expand their businesses, People Incorporated promotes the creation of new jobs, industry diversi cation, and an improved quality of life.
Tony Fox, founder of Aqua Tech pool repair service in Page County, Virginia.
SUPPORTING BUSINESS FY2018 IMPACT HIGHLIGHTS
In FY18, made 22small
business loans totaling $456,305
102individuals participated in small business training.
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