After years of working for a large corporation in the gas & propane industry, Randy Peralta decided to pursue his own entrepreneurial project that would allow him to draw on his experience and be his own boss. In 2021, Peralta launched Gas Register Specialty Services, known as GRS Services, a mobile gas meter calibration company. Peralta’s specialty business serves commercial clients from Lea to San Juan counties.

While 28 years of technical experience in the propane industry were imperative for the nature of work that GRS Services set out to offer, operating a sole proprietorship did not come without its challenges.

“Having experience in the propane industry did not necessarily prepare me to handle all of the business and operational aspects,” said Peralta, adding that while he learned a lot in the field during his years in the industry, financial reporting and project management were new to him. He also needed to attend what he calls ‘meter school’ to be able to legally calibrate both electronic and mechanical meters.

“I actually had to complete some trainings and coursework to keep me on track and to adhere with state requirements,” he said.

Peralta self-funded the launch of his business, but a year later he realized he needed capital to grow. A representative from the New Mexico Economic Development Department referred Peralta to several nonprofit Community Development Financial Institutions (CDFIs). Peralta’s first call was to LiftFund, a CDFI lender that has been offering loans and business education to small-business owners and entrepreneurs since 1994.

LiftFund provided Peralta with one-on-one advising that helped him secure the capital he needed to make GRS Services thrive.

Peralta said the LiftFund loan has given him peace of mind. “Just knowing that I have that financial stability, knowing that if I need a vehicle or another piece of equipment, I’d now have the capital to invest in my business and in myself – that helped tremendously!”

With the critical financial investment in GRS Services, along with inspiration from his own professional development, Peralta is developing the company’s capacity to serve more clients and anticipates hiring more employees. These are “good, technical jobs,” he said.

In a few short years, GRS Services has already become synonymous with quality and dependability in the propane equipment servicing field. This year, Peralta aims to expand his company’s excellent reputation into propane sales by launching J&R Propane. People in Sierra County will be able to order propane and delivery online from a website that is expected to go live in April of 2023.

To learn more about LiftFund small business loans ranging in size from $500 to $5 million, visit https://www.liftfund.com/.

Article 799 adapted courtesy of LiftFund.