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Loftin & Co. Printers
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Loftin & Co. Printers

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Loftin & Co. Printers

Just before the turn of the 20th century, 20-year old Charles Loftin Sr. broke away from the local Gastonia, N.C., newspaper to open his own printing business. Since then, Loftin & Company has been supplying financial institutions, ad agencies, graphic designers, service and industrial firms within a 45-mile radius of Charlotte.

“When we were ready to buy this equipment, Bank of America initially looked at financing it conventionally over a seven-year term, and that made it a little tight. So we turned to the 504 Program, which we’d used before, because it gave us a 20-year term. This was a much easier payment to swallow, and freed up some working capital for us. The loan process wasn’t difficult and working with Self-Help and Jennifer Rogers at Bank of America was great."

Charlotte’s oldest printing company, Loftin & Co. specializes in high-quality, sheet-fed commercial printing. It offers a wide range of printing services from prepress to production services and binding. This family-owned business has weathered wars and financial busts, including the Great Depression of the 1930s, without missing a single payroll.

Now the firm is co-led by the third Loftin family generation, and staffed by many who have spent their entire working lives there.  Bill Loftin Sr., Director and Treasurer, worked for the firm during his youth and "officially" joined the company in 1962. Bill Loftin Jr.,  Director and General Manager, supervises daily operations. Walter Hobbs, Director and President, is a Marine Corps veteran who left a banking career to join the company in 1974.

During the 1980s and 1990s, Loftin & Company expanded slowly but steadily and began updating equipment. In 1993, the company used the SBA 504 Program to fund the construction of a new, 20,000-square-foot headquarters and printing plant. Additional investments brought Loftin & Company’s total to five presses and gave the firm full-color capability and more formatting options.

In December 2008, the owners decided they needed to upgrade their equipment to become more competitive and once again they used the 504 Program for funding. In partnership with Self-Help and Bank of America, the owners used their 504 loan to upgrade equipment and purchase a Heidelberg six-color Speed Master press and a Stahlfolder folding machine.

A key factor in helping this 504 deal come to fruition was a rare exception the SBA made: the usual 10-year term for equipment financing was extended to 20 years because the assets – printing presses – have such a long life.

“This new equipment places us on a higher playing field,” says Loftin. “This state-of-the-art press allows us to take on more complex projects and is more productive. We’ve seen a difference already since purchasing the equipment –new customers are coming in because they’re impressed by what we’re able to do. We are now poised for significant growth which we know will come.”

Loftin says that most of his industry suffering now, yet his company held sales steady the first quarter of 2009. He says that Charlotte is good place to be. The firm has 23 employees now and plans to add a couple more by the end of 2009.

Loftin & Company is dedicated to green business practices, and holds a Chain-of-Custody (COC) certification that encompasses eco-friendly practices in all aspects of the business. The company gives back to its community, offering Lunch and Learn Seminars that provide an understanding of new technologies and the growing digital print applications.

Loftin & Company remains dedicated to excellence in service, quality and working relationship with employees, suppliers, customers and the community.

For more information, visit www.loftinco.com