- June 5th, 2017
Northern Michigan’s growing economy means new homes and commercial buildings going up across the region. Many of those structures – especially in rural areas – need water service – and that’s where Berg Well Drilling steps in.
Doyle Berg is a third generation owner of the business, who recently secured two Venture North loans totaling $150,000 to help grow the company. One of the loans was utilized for working capital and various machine repairs for the Traverse City-based company, and the other was used to buy out the materials and equipment of a well-drilling firm from Fremont, Mich. Berg said the financing has helped him increase the capacity of his company, and helped him delve into the new technology of utilizing less-expensive plastic well casings for some of their wells.
“In this business, you buy a lot of material so financing is important,” Berg said.
Acquiring the various equipment from the Fremont driller, which included a rotary drilling rig, a 2,500-gallon tanker truck, a grouter and underground booring machine, was significant for Berg Well Drilling because it enabled them to begin using plastic casings for some of their wells. Berg said they went downstate to inspect the equipment and the technique and watch it at work before they made the investment.
“We watched them use it last fall,” Berg said. “Everything worked just the way we wanted it to.”
Berg said his company has already drilled a 100-foot plastic well that its using to fill its tanker trucks, and is helping the company keep up with the growing demand for its services as the construction sector continues to rebound across the area. The company plans to add three employees as part of its expansion effort.
“It’s been a big win for us,” he said. “We’re drilling wells almost daily.”
Berg said he also appreciated the service and professionalism of Venture North’s Laura Galbraith and her team, saying both loan transactions came off without a hitch.
“We’re very, very happy with Venture North,” he said. “They did exactly what they said they were going to do, and on time…everything was click, click, click, click.”
Learn more about Venture North’s lending resources by going to www.venturenorthfunding.org