Business inspiration:
3D printing has evolved from rapid prototyping to finished goods production with the introduction of laser sintering processes , including DMLS (Direct Metal Laser Sintering). Fortune 500 companies have been leveraging this technology. I3D MFG sees incredible production manufacturing advantages for SMBEs using DMLS to create complex finished parts. It allows engineers to rethink how they design parts and molds because 3D printing eliminates traditional machining and casting limitations.
Business description:
i3D Manufacturing provides 3D engineering design and finished goods manufacturing for mold tooling, medical device, aerospace, and military applications. Our clients benefit from small batch tests, accelerated speed to market, reduced material costs and weights, and simplified supply chains.
What types of services or programs have you received?
New Market Tax Credit SBA 7(a) Loan
Before coming to SBDC what challenges were you facing in your business?
There are almost no programs outside of angel investors that finance start-up companies using new technology.
How has the services or programs helped you overcome your challenges?
The SBA loan let i3D MFG avoid angel funding issues that prevent companies from following managed growth curve to to the pressures for huge returns in small time frames. Manufacturing does not fit that model. The SBA 7(a) loan filled that void and facilitated the creation of the Pacific Northwest's first 3D metal printing company.
Why were the services or programs helpful to you?
With the reasonable interest rates and stable equity funding platform that the SBA 7(a) loan provided, i3D MFG has an adequate start-up runway while being able to recruit and retain the educated, experienced workforce it requires for its complex sales and engineering strategy. We used interest savings to offer medical and other insurance benefits while creating family-wage jobs.
How is your business doing now?
We are exceeding our sales plan, and adding more production capacity 8 months ahead of projections. The need for the 3D metal printing is overwhelming.
