A Legacy of Business Ownership
When Billy Banks of Elkhart, Indiana acquired General Machine in 2025, it wasn’t just a business move—it was the next chapter in a lifelong entrepreneurial journey. Coming from a legacy of business ownership…his grandfather founded the family business, and his father grew it into a powerhouse…Billy knew what it took to build and sustain success. After selling his first venture, M-Tec, in 2011, Billy found himself right back where he belonged: leading, building, and growing.
With the help of a Growth Corp SBA 504 Loan, Billy was able to purchase both the real estate and the business in Freeburg, Illinois, securing long-term financing that allowed him to invest in growth without being over-leveraged. “The duration and rate of the 504 loan gave me breathing room,” Billy shared. “It let me focus on execution rather than just surviving monthly payments.”
Since taking over General Machine, Billy has:
- Replaced two retiring employees with new hires
- Reignited the company’s sales and marketing strategy
- Rebuilt the sales pipeline from nearly empty to overflowing
- Preserved the legacy of the previous owners while injecting fresh energy into the operation
His most satisfying moment? “Acquiring General Machine after the long entrepreneurial road I’ve traveled. I’m back doing what I love—and doing what I’m good at.”
Billy’s advice for new entrepreneurs: “Focus. Learn to say no. Don’t hedge. Burn the boats if you have to. Make it your overwhelming priority – or you will fail.”
Read more about Billy:
🔗 Billy Banks’ Epic Entrepreneurial Journey
🔗 Meet Billy Banks of M-Tec, Reach360 in Windsor Steel
Follow Billy and General Machine:
🔗 Billy Banks LinkedIn
🔗 General Machine LinkedIn
