Posted at 7:34 AM
Company Name: Hearon Media, Inc.
Industry Sector: Media
Results of MBDA Assistance: $1.3 Million Capital & 56 Jobs Created and/or Retained
MBDA Support: Access to Capital & Strategic Business Consulting
Donald Hearon started Hearon Records in Las Vegas in 1977. The company’s size and scope has grown with every ensuing year, and is now one of the largest Internet media outlets in the country. In order to reflect the multi-media mix of services his company provides, Donald Hearon changed the company’s name to Hearon Media, Inc. However, he needed more than just a new name if he was going to expand his company’s ability to deliver its services. Mr. Hearon came to the MBDA Business Center in Las Vegas looking for help finding capital.
The MBDA staff did an assessment to determine which loan programs were best suited to Hearon Media. They also assisted in putting together a loan package that would generate the capital needed to purchase a 13,000 sq. ft. facility. Hearon Media subsequently secured a $1.3 million loan, creating 50 new jobs and retaining six employees.