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Terrie Smith came to the Del Mar College SBDC for assistance with purchasing the existing H & R Block franchise in Three Rivers , Texas . The business had been in operation for over 30 years with the same owner. Terrie Smith was exceptionally well qualified to become the next owner of the business because of nine years of experience with the IRS. She had worked for five years in taxpayer services and four years in tax collections. During 2003, she also worked in the Beeville H & R Block office which provided her with valuable knowledge and experience with the operations and software of the franchise.
Terrie Smith met with her counselor, Larry Ellis , for assistance with a SBA loan to purchase the H & R Block franchise in Three Rivers. Mrs. Smith went through the detailed process of franchise approval very smoothly without any problems. Larry Ellis helped her put together a business plan and loan package to present to local banks. In addition, a detailed financial analysis with income projections for the business was provided by the counselor.
Another important part of the project was to upgrade the equipment and software to meet current H & R Block standards. This would then allow the franchise to provide state of the art tax services to its customers. In September 2003, a SBA Low Doc loan was approved by The Bank of Alice in George West for Terrie Smith. The bank branch president, Pat Murphy, provided excellent bank support to the project. Terrie Smith then worked diligently to furnish and equip the business. Computers, printers, and software were delivered and installed. A new green H & R Block sign was placed on the front of the building.
On December 4 th , a grand opening with open house and ribbon cutting was held to celebrate the opening of the business under new ownership. Despite many challenges including problems with communications and equipment issues, the new, state of the art H & R Block franchise in Three Rivers was open and ready for the next tax season. Terrie Smith is an excellent example of a female entrepreneur who is meeting the needs of rural taxpayers with professional, low cost tax services.
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