Gilbert Lumber and Supply
Donnie Dillard, Owner
Prescott, Arkansas

For more than 40 years, Gilbert Lumber and Supply has not only been an enduring part of Prescott’s community, but a force in the town’s commercial development as well. So when the owner announced his retirement last summer, the hardware store’s manager, Donnie Dillard, set his sights on becoming the new owner of this historic piece of Prescott’s economy.

Dillard approached the Nevada County Branch, Bank of Delight, about financing his purchase of Gilbert Lumber and Supply. In turn, the bank contacted Paul Considine, Center Director of the Southern Arkansas University SBDC. The bank representative wanted an impartial evaluation of the business’ selling price before he sent a proposal to the loan committee. Considine met with Dillard and the bank officials. Gathering relevant information on the business, Considine used three methods to calculate his conclusion. He met with Dillard and the bank officials again to confirm that the asking price for the hardware store was reasonable. Dillard became the new owner in July 2004. Gilbert’s Lumber and Supply Company will continue to be a mainstay in the city of Prescott.

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