When MODPROS Elevator Inc. launched in 2019, founder Michael Fray relied on what he knew best: deep industry expertise, strong client relationships, employee first culture, and disciplined execution. With more than 30 years in global elevator leadership, Fray built the company without a traditional banking relationship, funding growth conservatively and carrying only vehicle-related debt. That approach worked well early on, but by 2024, business momentum created new challenges.
Revenue was climbing steadily, long-term service contracts were building predictable recurring income, and new modernization projects were rolling in. But rapid growth also meant increased working capital demands, as projects required significant upfront labor and equipment costs before higher-margin service revenue kicked in.
Through the SBA Lender Match program, MODPROS partnered with First American Bank to create a financial strategy that matched its growth trajectory. The result: a tailored SBA-backed financing package, including a recently closed line of credit and upcoming term loans to fund operations, support expansion, and refinance existing debt. This structure improved liquidity, reduced monthly obligations, and freed up cash to invest in people, equipment, and geographic growth.
In November 2025, MODPROS signed a transformative contract with the University of North Carolina, covering hundreds of elevators and generating substantial monthly billings. At that time, the line of credit they urgently needed to fund day-to-day operations hadn’t yet closed. Without the right financing partner, payables could have been missed, potentially jeopardizing both client relationships and staff. Fortunately, MODPROS, by working with First American Bank, in 30-days, they were able to secure the necessary financing, ensuring smooth operations and stability.
With the line of credit and long-term financing partner in place, the company is now able to pursue additional revenue opportunities. Wins with clients such as Axis and Memorial Regional Hospital strengthened the backlog, and with contracts and pipeline in place, management now projects significant revenue growth for 2026.
Key Takeaway for Business Owners
Rapid growth is exciting, but without the right financial strategy, it can put your business at risk. Even if accounts receivable are coming in, if you can’t fund day-to-day operations, you risk losing not only clients but also the staff who deliver those services. By leveraging SBA financing and partnering with a trusted bank, MODPROS turned expansion pressure into scalable, sustainable growth, positioning the company to confidently expand across Florida, the Carolinas, and Georgia, with additional opportunities to come.
