HUSBAND AND WIFE LAUNCH DEMETRIUS SHACK’S PAINTING SERVICE AFTER LOSING EMPLOYMENT

In 1999, Demetrius was let go by his employer. He spent his extra time around his house – attending to past due repairs, maintenance, and painting. Once he realized he was able to do the same for others, he saw an opportunity to provide a good income for his family. He launched Demetrius Shack’s Painting Service with his wife Sandra.

A SIZABLE PROJECT REQUIRED WORKING CAPITAL

In November 2016, they were elated to find out that they were up for a sizable project with a prime contractor that would last 3.5 months. Because the project wouldn’t begin until July 2017 they would need working capital to cover their business expenses until then. Exhausting their personal savings to fund the project was not an option, so they started to look for loan programs.

ASCENDUS AND THE CITY OF JACKSONVILLE ACCESS TO CAPITAL PROGRAM

After hearing about Ascendus through the Jacksonville City Council, Demetrius and Sandra were the first recipients of an Ascendus loan through a new partnership with the City of Jacksonville — the Jacksonville Access to Capital Program. During their loan process, they worked carefully with their loan consultant to make sure they received the $22,000 they needed. Once they were approved, the funds were quickly disbursed into their account, which helped them meet their weekly expenses and meet the project’s deadline.

GROWING THEIR 11 EMPLOYEE COMPANY

Demetrius and Sandra Shack love seeing their hard work in action as they transform projects from grungy to elegant. Their business currently employees 11 individuals, but they hope to grow that number.