Eastern Refrigeration is a well-established family-owned business based in Charlotte, North Carolina. The company offers a broad range of services, including sales, repair, and warranty work for commercial refrigeration products. Through three generations and years of experience in the industry, Eastern Refrigeration has built a strong reputation in the community for providing high-quality services to its customers.
The new co-owner of Eastern Refrigeration, Tim Bakalenko, originally started his career in the automotive industry. He received formal training in automotive school and worked at a BMW shop before branching out and starting his own shop. It was at his shop where he was introduced to Seth Rogers, whose family owned Eastern Refrigeration. Seth has worked at the company for decades and is currently a field service technician and co-owner with Tim.
Tim was ready for a change in his professional life, and it was through Seth that he learned about the opportunity of acquiring Eastern Refrigeration. He was impressed by the company's family-oriented culture, and it seemed like the perfect fit. Once he decided to acquire the company and retain Seth on as a partner, Tim and Seth began to look for financing options. They reached out to a loan officer at his local FNB branch to learn more about business loans. She suggested they speak with Mark Moreno, one of our Business Development Officers, about an SBA loan. Through their partnership, Mark was able to craft an SBA 7(a) loan that enabled Tim and Seth to acquire the business and obtain working capital for future growth.
Tim and Seth had this to say about their experience with Mark and the team at FNB Small Business Finance:
Mark was the go-to guy for everything! He was always responsive and picked up the phone when we called. Mark did an amazing job and went above and beyond. We would definitely recommend him to other small business owners.
Congratulations to Tim and Seth on their new co-ownership of Eastern Refrigeration. We can't wait to see how you both take this business to new heights!
