Dakota Environmental Services - Boonville, NY

Thursday, December 1, 2016 / Published in Featured News, Success Stories
Dakota Environmental Services - Boonville, NY

Anna Hadyk and her asbestos-abatement firm, Dakota Environmental Services LLC, enjoyed substantial growth since taking advantage of three separate borrowing opportunities with NYBDC. The first loan, made in 2009 for $150,000, supplied money for working capital that carried the company through its first year under Hadyk’s ownership. That loan was quickly repaid in full. And Hadyk has since paid off almost all of the $500,000 she borrowed in two subsequent loans that the company made through NYBDC in 2010 and 2013.


The loans, coupled with Hadyk’s strong leadership, helped Dakota Environmental steadily increase revenue and double its staff, from 15 in 2008 to 30 today. Because the loans gave Hadyk better control of Dakota Environmental’s cash flow, the firm, which had been operating in leased space, built its own offices and warehouse space in 2015. Instead of incurring a loan, Hadyk was able to pay cash for the building.

A fourth borrowing opportunity, this one a $250,000 revolving line of credit through New York’s new Bridge to Success loan program, has rocketed revenue at Dakota Environmental by $500,000 in 2015. The Bridge to Success loan program makes at least $20 million available for short-term bridge loans to qualified Minority and Women-owned Business Enterprises (MWBEs), giving them the working capital they need to execute on government contracts. 

“When I heard about the program, I thought, ‘the possibilities are endless.’  With a line of credit available to me, I can take on public-sector work instead of shying away,” says Hadyk. Her state-certified WBE in Oneida County in central New York removes and disposes of asbestos, lead-based paint and other hazardous materials. More than 95 percent of the firm’s work comes from school districts, municipalities and other public-sector agencies—entities that can take up to 90 days to pay their contracts.

Companies use the Bridge to Success’ revolving line of credit to cover payroll, benefits and operating costs during this lagging payment schedule, an encumbrance most traditional lenders aren’t willing to take on.

“At $80,000 a week, our payroll is our biggest cost. This program helped position me to do work instead of worrying where the money will come from. It helped bring us to a place where we can to grow, hire local employees and give back to the community,” says Hadyk. She has borrowed almost $500,000 through Bridge to Success, paying off the first $250,000 in 45 days.

“The Bridge to Success program enabled the borrower to access contract-specific funding at a much more reasonable cost than a previous factoring relationship, which means savings flowed right to their bottom line,” says Steve Willard, senior vice president, NYBDC.

Dakota Environmental has since opened an office in Albany to take advantage of additional contracting opportunities in the state’s capital city. Hadyk plans on bidding for three state contracts that would not have been possible without the Bridge to Success program.

“If it wasn’t for NYBDC, my company wouldn’t be where it is today. This line of credit is crucial to our survival,” Hadyk says. “The only thing I’d like to see changed is I wish we could get a little more at a time. A good job eats it up really quickly.”




Through the cooperative efforts of its lending partners, New York Business Development Corporation (NYBDC) promotes and advances the business prosperity and economic welfare of New York State by providing small business loans. Throughout its 60-year history, NYBDC has provided thousands of small businesses, including start-ups, mature businesses, and minority- and women-owned businesses, with access to loans when they do not meet the requirements for traditional financing. Learn more at www.nybdc.com.


Together with affiliates Excelsior Growth Fund (www.excelsiorgrowthfund.org) and The 504 Company (www.the504company.com), NYBDC offers small businesses access to suite of financing options that includes SBA 504, 7a and Community Advantage loans, as well as online alternative loans.