MuniRem Environmental, LLC was established in 2014 by Dr. Valentine Nzengung. The company specializes in providing environmental remediation products and services for the cleanup of explosives, contaminated soils and water, and restoration of mining sites.
Like other small businesses, MuniRem Environmental suffered losses due to the COVID-19 pandemic. With a 60% drop in revenue in 2020, the company needed supplemental financing to maintain its full-time staff and the contractors who make it possible for them to provide niche support to the critical B2B (Business-to-Business) projects the company is known for. Dr. Nzengung had received PPP funding prior but couldn’t survive on that alone.
He connected with ACE in May 2021 after receiving information from the Small Business Development Center. He researched and found ACE to be one of the better options for small businesses like his. Through a special program designed for Small Business Resilience and Recovery, Dr. Nzengung secured a $100,000 loan which includes ACE’s business advisory services. This allowed him to stabilize business operations by making payroll and paying down credit card debt so that he could continue with necessary business travel.
MuniRem Environmental’s primary target market includes the Department of Defense (DOD), commercial manufacturers of explosives, mining companies, and military munitions remediation providers.
The Resilience and Recovery program will also provide 9 months of payment relief after completing 15+ hours of Business Advisory Services coaching – which will help Dr. Nzengung strengthen his business and sustain its growth after surviving the toughest moments of the pandemic.
“My ACE loan has allowed my company to overcome challenges we experienced during the COVID-19 pandemic. The simplified application process saved me time compared to applications for operation capital from other banks. The affordable ACE funding, nine months of payment relief, and business growth training have contributed significantly to my company’s ongoing recovery.”Dr. Valentine Nzengung