For the past 30 years, SETECH Supply Chain Solutions and its predecessor company has taken a process driven approach in all aspects of their business. They began as a manufacturer of automation equipment, aircraft components, and medical devices — all things that require a strong engineering and manufacturing competence.
Today, the company has evolved to provide supply chain services to clients seeking to make improvements in various aspects of their business, including cost reduction, availability of working capital, and the management of spare parts. SETECH takes a lean operational approach, identifying and addressing waste in eight key areas in order to optimize their clients’ direct and indirect supply chains.
William “Bill” Shriver initially began working with SETECH as a consultant. Following decade-long stints at General Motors and Ernst & Young, Bill started his own consulting practice and brought SETECH on as a client. In 2017, Bill acquired 40% of SETECH and soon began making plans to acquire the remainder of the company.
By chance, Bill met Doug Bowman of FNB through a family friend, who then introduced him to Ken Harris and later, Mark Moreno. Together, Ken and Mark put together an SBA partner-buyout loan package to allow Bill to acquire the remainder of SETECH.
Although Bill lives and works in Charlotte and many of his employees work remotely, FNB was able to develop a solution uniquely tailored to SETECH, despite its unconventional business model. This was Bill’s first experience working with the SBA loan program and he points to the expertise of Ken and Mark for getting him to think bigger and smooth out the process.
Bill has this to say about his experience working with Mark Moreno, and the entire FNB Small Business Finance team:
I have been in business for a long time, worked with many different people, and I can read people fairly quickly. Every introduction with FNB has left me with a good feeling. The people I have met have been honest, trustworthy, and good business advisors. That is a strong, powerful combination. If you can find that in the business world, you are lucky. We were blessed to find them and get the deal done quickly, and I dare say we migrated from being partners in business lending to becoming friends throughout the process. I would absolutely, without hesitation, recommend Mark Moreno and the team at FNB to anyone.
We are very excited to see where the future takes Bill, and wish him success as his supply chain solutions business continues to grow!