Forget about the grudge match between Boomers and Millennials in business. At Eldredge, Inc., ownership is shared between 4 people spanning 3 generations. From Baby Boomer to Gen X to Millennial, they’ve shown they can work together to successfully grow a company, most recently with the help of an SBA 504 loan and Seedcopa + SeedcoDE.
In 1968, Robert Eldredge joined his father’s septic business in Delaware County, PA, just a decade after the company was founded. Eldredge went on to expand the company’s services and relocate the business to West Chester, PA. He also became one of the original board members of the National Solid Waste Management Association and a leader in Pennsylvania’s waste industry.
Today, Eldredge Inc. specializes in the safe disposal and recycling of industrial waste. The company has not only focused on developing talent from within – but also ensuring employees could advance to part ownership.
“What began as a family business has evolved into a company that embraces a sense of family with every new team member, thanks to a collaborative culture rooted in faith, stewardship and innovation,” said Eldredge. “Our cross-generational team is one of our greatest strengths — spanning over 50 years between our most seasoned employees and newest hires, as well as blending deep expertise with fresh perspectives. This diversity empowers us to adapt and thrive in the ever-evolving landscape of waste management, sustainability and circularity, driving our continued growth and resilience while ensuring we remain a leader in resource recovery, reuse and recycling.”
During the summer of 2023, Eldredge, Inc. sought an SBA 504 loan to assist with the $2.6 million purchase of a fourth property at 1107 Saunders Court in West Chester for much-needed office, parking and garage space to support their growing field services division and transportation department. The location was ideal, being less than two miles away from Eldredge, Inc’s headquarters, residual waste processing facility and vehicle storage lots.
The SBA 504 loan facilitated by Seedcopa + SeedcoDE and bank partner Meridian Bank ensured that Eldredge, Inc. would make a 10% down payment, instead of the typical 20-25% down with a conventional loan. Eldredge, Inc. also secured a fixed, below-market interest rate at a time when rates were highly variable.
“All four principles are highly involved, which isn’t typical,” said Sherwood Robbins, Seedcopa + SeedcoDE Managing Director. “When presenting Eldredge’s loan application to the SBA for consideration, we knew that the multi-generational strength of this organization in its day-to-day operations would set it apart. The majority owner trusts the other principles to work with him as a cohesive team, and they’re certainly a force to be reckoned with in the marketplace.”
Now Eldredge, Inc. is ready for its next phase of advancement. Proving that growth starts from within, Gen X director of transportation Gary Founds has been an integral part of Eldredge for over 25 years and is a co-owner; Millennial co-owner Geddes Dowling, IV went from sales coordinator to director of business development in just 6 years; and Millennial co-owner Winston Hibberd climbed the ladder from intern to chief operating officer.
Hibberd said, “Looking ahead, we’re excited to harness the diverse generational experiences of our team, building on the foundations laid by our Boomer, Gen X and Millennial leaders while embracing the fresh innovation of our Gen Z employees and the incoming Generation Alpha. This blend of energy and decades of industry expertise uniquely positions us to guide industrial clients in finding the best solutions for disposal, recycling and reuse. As Eldredge, Inc. continues to evolve, we remain committed to delivering innovative strategies that meet today’s challenges while shaping the future of waste management and environmental stewardship.”
Photo showing Robert Eldredge is courtesy Eldredge, Inc.
