Jeff Dumboski, Owner
North Little Rock, Arkansas
Since 1897, Stanley Hardware has been a mainstay in the Levy community in North Little Rock. When the Stanleys announced their intention to sell the business, Jeff Dumboski leapt at the chance to purchase the century-old business. With 10+ years of sales, customer service and business experience in his background, Dumboski was confident he could continue the Stanley legacy of quality products and service.
Metropolitan National Bank referred Dumboski to Phil Harris, UALR ASBTDC Business Consultant. Dumboski explained to Harris his goal to purchase the hardware store's assets and continue the business under the Stanley name.
Harris began helping Dumboski to perform a business valuation of the company, write a business plan and develop cash flow projections required for financing. During the course of consulting, Harris worked with Dumboski to overcome several obstacles and setbacks until the business plan was ready for submission to Metropolitan National Bank.
The request was funded as an SBA-guaranteed loan, and Jeff took over Stanley Hardware in June of 2005. Since taking over, the business has performed beyond the expectations of the new owner. Dumboski continues to use the services of the UALR ASBTDC, and his business was the subject of a student marketing project in the UALR College of Business.
