MGS LLC, a respected trading partner with global defense and law-enforcement industry heavyweights for two decades, has qualified for a multimillion-dollar line of credit through the U.S. Small Business Administration and South Carolina Small Business Center to further enhance the company’s capabilities and services.
A minority-owned business based in Columbia, MGS assists government clients in the acquisition of military, security and law-enforcement equipment and services. The company has grown into a multimillion-dollar international operation, with clients in more than 20 countries, including the U.S. government, Colombia, Mexico, Peru, Brazil, Chile, Ecuador, and Argentina. With a wealth of expertise, a reliable network and impeccable credentials, the company has earned a stellar reputation with the people it serves.
With a keen understanding of the company’s potential, CEO Robert Suber set out to expand the company’s ability to ease financing constraints for both partners and clients. Fluent in multiple languages and highly skilled in international firearms sector risk assessment, Suber has more than 30 years of forward-thinking management experience and global expertise in operations, business development, sales, banking and contracting. Reaching out to the SBA and South Carolina’s Small Business Development Center, Suber was introduced to senior business consultant Beth Smith.
With her extensive knowledge of exporting regulations, network of industry experts and her experience in Central and South American distribution, Smith had a clear understanding of the need to specifically address cash flow in international operations, as well as what solutions were available.
“After learning about Robert’s business objectives and aspirations, I suggested he take advantage of the SBA’s Export Working Capital Program,” Smith said. “The program is ideally suited for small exporting businesses like his that are often denied working capital advances from conventional U.S. banks.”
Smith worked with the company’s team to navigate the application process, from detailing the export business plan to creating a process training manual and advertising plan. Last October, Smith and Suber learned that their hard work had paid off: Regions Bank approved a $5 million loan for MGS LLC.
“This line of credit will enable Robert to cover the typical 45-day ‘float’ period—the time gap between when Robert has to purchase goods from a manufacturer and when he receives payments from his customers abroad,” Smith said. “Recent developments have presented Robert with the opportunity to expand the countries to which he exports,” Smith said, noting that the 6- to 12-month outlook for the exporter is promising.