Circle Utilities – A Bright Idea 

When Dave Masephol and Brian Apslund decided to purchase the utility and telephone company in Circle, AK., they knew it would be hard work.  They didn’t realize that a year after making the decision they’d still be looking for the financing to fund their business enterprise.

With a business plan in hand, Dave sought out assistance from the Alaska Small Business Development Center, at their Great North Regional office in Fairbanks.  Although Dave had a solid background in the electronics field and understood the technical processes necessary for operation, he had a challenge with the financial aspect of the plan and the business.   

The Great North Region’s business advisor went over the financials with Dave, helping him understand cash flow, profit and loss, balance sheet and different financial projections based on different loan payments. 

After several meetings with SBDC, Dave and Brian felt secure in setting up new meetings with potential lenders to discuss their business plan.  Again, their SBDC business advisor stepped in and gave them several references for lenders in Fairbanks.  With their solid business plan in hand, and a better understanding of their financial projections, Dave and Brian received the financing they needed from Denali State Bank.   

Dave and Brian have come a long way in their hopes of keeping Circle linked to a bright and well-connected future!