SUCCESS STORY FOR
Jason and Andrea McDaniel of City Lumber
City Lumber Company is nestled in the small rural community of Dyer, Tennessee. The business has been serving Dyer, Gibson County, and the surrounding region for more than 100 years. Store owners Jason and Andrea McDaniel attribute the company’s success to their ability to change with the times.
In 2012, Jason McDaniel was hired as a store manager. At the time he was also running his own insulation business, JCI, which he started when he was 19. Then in 2016, Jason and Andrea McDaniel started the purchase process for City Lumber Company. At this time the office manager was getting ready to retire, which brought Andrea McDaniel into the business in 2017.
In March 2018, the McDaniels approached the Dyersburg TSBDC for assistance with business planning and the development of the financial projections for the purchase of the business. The stock purchase was completed in January 2019.
In 2021, the McDaniels began the process of expanding City Lumber into a second location. Again, they called upon the TSBDC to assist in obtaining financing and developing a business plan and financial projections that would meet the requirements of their lender.
With the collaboration of Northwest Tennessee Development District, the McDaniels were able to obtain a loan from the district’s Revolving Loan Fund. The loan assisted in the purchase and renovation of the second location of the business, located in Greenfield, Tennessee.
“We were unaware that the Revolving Loan Funds were available,” Jason McDaniel said. “As a new business rebounding from COVID and the uncertainties in the lumber business, the assistance we received from the SBDC was vital in our ability to expand.”
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