BUSINESS BRIEFS

"The economy is starting to stir and we're growing," said Dennis Adams, CEO and President of Malvern, PA, based Celebrity Worldwide Chauffeured Transportation. "We offer high quality comprehensive transportation to the corporate world. We spotted a trend towards moving employees in groups and this new specially equipped Van Hool C2045 is a key component of Celebrity's effort to serve that market."

After a successful career in the financial industry, Adams started Celebrity (www.celebritylimo.com) 20 years ago with a single limousine. The fleet has grown to 50 vehicles, including sedans, SUV's, mid-sized coaches and a luxury motorcoach (with a second on order for Fall).

"We noticed that, in an effort to economize, our customers were often moving groups, rather than individuals. Our fleet has evolved to serve our clientele. There are a number of fine charter companies serving the Philadelphia market, but we wanted coaches that were custom designed for our corporate market," Adams pointed out. "The distinctive black paint gets a lot of attention, but it's just the beginning."

The new coach boasts 57 luxury black leather and cloth seats with 3 point belts, satellite XM Radio, IPod connections, WiFi, 110 volt outlets, and a luxury entertainment system with six 10" video monitors. A Cummins ISM 450 hp engine drives the coach through an Allison B500 Gen IV transmission, providing fuel economy while offering passengers a smooth ride.

"We went to ABC because a colleague in California told us what a great job they'd done for him. ABC's Account Executive Jay Oakman has treated us like family, and we couldn't be happier," stated Adams.

Oakman indicated, "Dennis is a guy who knows what he wants, and more importantly, what his customers want. His penchant for being a master marketer serves him well in this new phase of Celebrity's growth. Before taking delivery of his first bus, he initiated a marketing blitz among his existing corporate clients that had remarkable results. Now that he has the coach, he takes it on sales calls, visually demonstrating the quality they can expect from Celebrity."

"He's truly an entrepreneur who has dedicated himself to working 'on' his business, not 'in' his business. That is a recipe for long term sustainability. What makes him unique is his commitment to quality. He treats his employees like teammates, and they respond by providing Celebrity's customers with superior service. He calls his drivers "Chauffeurs" and they really perform to that level. Any time there is the slightest glitch, the customer gets a personal call from Dennis - that's real commitment."

ABC Companies is a leading provider to the transportation industry with diverse product and service offerings that cover a full spectrum of operational needs including new and pre-owned full size highway coach equipment, mid-size shuttle transport vehicles, and advanced design heavy duty transit equipment. With stocked parts inventory at seven strategically placed locations throughout the U.S. and Canada and sales and service support from six locations, ABC supports customers with a comprehensive after sale service network for service and repairs, collision services, extensive OEM and quality aftermarket parts needs for transit, motorcoach and heavy-duty equipment. Additionally, private and municipal financing and leasing options are available through the company's financial services group – one of the largest financial service providers within the industry. For more information, contact ABC Companies at 1-800-222-2875 or visit the company web site at www.abc-companies.com.

Malvern's Celebrity Limousine Celebrates Headquarters Purchase

Ribbon Cutting Marks Firm's SBA Loan Guaranty-Funded HQ Purchase, Firm's Impact on Southeastern Pennsylvania Economy

Philadelphia, Pa. - An October 28 ribbon cutting ceremony celebrated Celebrity Limousine Service's purchase of its Malvern, Penn., headquarters property, funded through SBA's 7(a) loan guaranty program and Eagle National Bank. The event heralded Celebrity's success and the benefits of its investment in the Southeastern Pennsylvania economy with more than 70 employees. Joining Celebrity Limousine leadership at the ceremony were SBA Philadelphia District Lead Business Development Specialist John Fleming and Eagle National Bank Vice President Brian M. Bodo.

Prior to Celebrity's June 24, 2010 purchase of its Yellow Springs Road headquarters property - including a 12,000 square foot warehouse-style building and a one-half acre of land - the firm had leased it for 15 years. Over that time, Adams along with Celebrity Vice President Alisa Monastero, built the business to include a fleet of nearly fifty vehicles and a customer base spanning the entire Delaware Valley.

When Celebrity's headquarters became available for purchase in 2008, Adams and Monastero began negotiating to purchase it. The facility offered just the right mixed use office/warehouse space to accommodate their growing staff and fleet and offered enough square footage to grow with the firm into the future. But negotiations ground to a halt at the beginning of the recession, as Celebrity joined the ranks of other small businesses minimizing expenditures to survive the nationwide economic turbulence.

Surviving that period re-focused the firm's fiscal priorities and purchasing its headquarters property rose to the top of the list, according to Adams. Emerging from the Recession, Celebrity's leadership saw real value in eliminating debt and building equity to insure the firm's future security. By May 2010 Celebrity was working in earnest through Eagle National Bank to secure the financing that it needed to purchase the property that it had called home for so many years.

Through the SBA's 7(a) loan guarantee program, Eagle National Vice President Brian M. Bodo was able to finance Celebrity's purchase of its Malvern headquarters within a matter of weeks. Eagle National Bank is an SBA-certified lender, qualified to issue Federal-government-backed loans to entrepreneurs. Federal-government backing insures that, should the borrower default on the loan, the bank can recover the guaranteed portion of that loan from the SBA. This reduction in bank risk makes capital more accessible for small businesses like Celebrity.

"Events like this are a real highlight, as an opportunity to applaud the achievements of small business owners and to see the SBA's mission at work in the community," said SBA's John Fleming. "From its founding, SBA's mission has been to help America's small businesses start, grow and succeed. The tumultuous economy has made that mission more vital to the American economy than ever before. Thanks to the commitment of lenders like Eagle National Bank to the SBA's 7(a) loan guaranty program, small businesses like Celebrity have continued to have the access to capital that is so imperative in this economic climate."

Today, Celebrity's leadership is reaping the rewards of property ownership. Since purchasing the building Celebrity has already made a variety of improvements, updating the lighting system and building out additional office space. A planned Turnpike on-ramp from nearby Route 29 promises to make Celebrity's new property even more convenient to its customer base, while increasing the firm's equity in the property.

Celebrity Limousine Service, Inc. provides chauffeured transportation in the greater Philadelphia, Pennsylvania/Wilmington, Delaware region. Celebrity has grown to include a fleet of nearly fifty vehicles since its founding by President and CEO Dennis Adams.

Eagle National Bank is a full-service commercial bank operating in the Greater Philadelphia area with five full service branch locations and executive offices in Villanova, PA. Eagle National Bank is a $250 million community bank. Eagle National Bank maintains approximately $200 million in commercial and consumer loans and approximately $200 million in local deposits. Eagle National Bank was the largest SBA loan originator for fiscal year 2010, as measured by dollar volume, in Greater Philadelphia.

SBA provides programs that support small businesses at every stage of growth. SBA's 7(a) Loan Guaranty Program is the SBA's primary financial assistance instrument. It provides loan guaranties on business loans to help qualifying entrepreneurs secure financing on reasonable terms. The program operates through private-sector lenders, like Eagle National Bank, that provide loans.

To request an interview or photographs, please contact Jennifer Pilcher, the SBA's Public Information Officer in the Philadelphia District Office, at 610-382-3084 or Jennifer.pilcher@sba.gov