S&N Airoflo, Inc., a Greenwood, MS-based manufacturer of an energy-efficient aerator used for the treatment of municipal and industrial waste water, has received a $1.6 SBA 7(a) loan from BizCapital, the small business lending division of Advantage Capital Partners.
The company intends to use the funding to refinance existing debt and support growth, including the retention of 18 employees in a low-income community.
Led by President Buster Norris, S&N Airoflo manufactures, distributes, installs, repairs and maintains wastewater treatment equipment for their customer base, which is composed mainly of government municipalities across 40 states.
BizCapital’s investment in the company was made in conjunction with the federal New Markets Tax Credit program and the Mississippi New Markets Development program. Both programs are designed to stimulate economic growth in communities that historically have been underserved by traditional sources of capital.