Spradlin Bros. Welding Company has received an almost $400,000 loan from the state of Ohio.
The $390,812 loan went towards purchasing an 8,000-watt laser cutting machine, which is used for cutting steal, aluminum and stainless steel plates. The machine can also cut through plastic and rubber.
“We just installed it last week,” said Jeff Spradlin, the president of Spradlin Bros. Welding Company.
Spradlin Bros. will have the opportunity to bring on three more employees with the purchase of the laser cutting machine, as well as retain 15 existing employees.
Spradlin Bros. received the Regional 166 Direct Loan through the State of Ohio Controlling Board, which controls the Regional 166 Direct Loan Program that provides loans that can be used for land and building acquisition, construction, expansion or renovation and equipment purchases, according to state documents.
According to Spradlin, this is the second time that the company has received the loan. The process involves a local bank supplying 50 percent of the funds, Spradlin Bros. providing 10 percent and the state supplying the rest.
With the addition of the Regional 166 Direct Loan and the other funding needed in order to secure the loan, Spradlin Bros. was able to net little under one million dollars to purchase the machine.
Spradlin said that he is excited about the opportunity to hire more employees, even if the number is small.
Spradlin Bros., at 2131 Quality Lane in Springfield, is an industry leader in custom welding, laser cutting, fabrication, metal forming and welding repairs. The company works with manufacturers in industries throughout Ohio, Kentucky, Michigan, Illinois and Indiana.
According to their website, Spradlin Bros. works to fulfill the needs of a variety of different customers, “from CNC Laser cutting of the blanks to CNC precision forming onto the finished welding of your product, precision and quality are easily maintained without having to send your parts to another vendor or location for additional processing.”