“We just completed our fourth loan with PIDC in four years, and each time the process has been a pleasure,” said Peter. “While traditional banks looked us over, PIDC partnered with us to help us get the capital we needed to make key technological and infrastructure investments to keep up with our growth.”
With the help of PIDC’s Working Capital & Equipment Loan, Home Hero moved into a 2,000 SF garage in South Philadelphia in 2019 where they built a custom 750 SF office specifically for their needs, making it possible for them to keep storage, tools, and office staff in one location. “PIDC was able to refinance our existing loans and provide the capital we needed to complete this project and amortize those costs over the same period of time as our existing loans, all while only elevating our monthly payments by a few hundred dollars a month,” said Peter. “That’s the kind of help a small business like ours needs when making a big financial commitment like this.”
“Knowing PIDC believes in us, our mission, our growth, [and] our future is both a financial support and an emotional one.” Peter Rose
Home Hero has grown tremendously since receiving financing from PIDC. From 2015 to 2019, they increased their revenues and staff size by 200%. The company’s customer base increased from 3,000 customers to over 7,500. Home Hero also went from 5-7 in-person customer meetings a day for estimates to an average of 15-20 virtual estimates a day. Plus, they had one non-branded vehicle on the streets in 2015 and now they have five branded vehicles that can be seen around town.
It wasn’t long before Home Hero gained recognition for their accomplishments. The company won Philadelphia Magazine’s Best of Philly twice, and was recognized as one of the fastest growing companies in the area for three years in a row. They also won the Customer Service Excellence Award from the Chamber of Commerce for Greater Philadelphia in 2017. “We also have over 300 A+ reviews online from our customers who share their positive experiences loud and proud, which is the most satisfactory award of all,” said Peter.
Peter said having support from organizations like PIDC gives him the confidence to make bold steps that he would never have been able to make on his own. “Knowing PIDC believes in us, our mission, our growth, [and] our future is both a financial support and an emotional one,” said Peter. “PIDC has our back! Not to mention, they are amazing connectors, always introducing us to vendors and programs that can help our growth and education so we’re ready to grab that next opportunity when it comes.”
Peter said that this year, Home Hero plans to launch and market a new Office Hero Service to specifically cater to the handyman needs of corporate clients, which includes TV mounting, drywall repair, painting, decor, furniture assembly etc.
PIDC is proud to work with such a growing company providing stellar services to the Greater Philadelphia area.