In a town like Moab, where the cost of living has climbed significantly over the past ten years, starting a business from scratch can be a challenging prospect.
For Shad and Camille Peters, creating their own company was a personal mission to support the community they call home. Many homes and businesses in Moab are not connected to central gas lines, and the pair saw an opportunity to provide local, higher quality, and more affordable propane delivery and tank installation service with Peters Propane.
After a 32-year mining career in Colorado, Shad Peters brought a “work ethic like nobody’s business” to his new venture, according to The Times Independent. Camille brought experience in client service and a no shortage of grit from her time spent in community nursing.
But work ethic alone doesn’t buy service trucks or 30,000-gallon tanks that must meet safety and other regulatory standards. Despite a clear need for a local provider in Grand County, the couple faced significant bureaucratic roadblocks and the daunting reality of high startup costs for a business that is reliant on infrastructure and physical assets. The one-time high school sweethearts, who reunited decades later, had a lot going for them — but what they needed most was access to capital.
“There are so many great opportunities in Moab,” said Camille Peters, “But without financing, there’s no way to begin.”
USBCI as a solve for capital
As the vision for Peters Propane gained momentum, the pair developed a partnership with Desert Rivers Credit Union and MoFi, supported by excellent loan terms via the Utah Small Business Credit Initiative (USBCI). The couple was able to go beyond “seed money” financing; the capital they secured would be the functional backbone of the company, including:
- A service truck equipped with a pulley system, making tank installation safer and more efficient for Shad.
- A 30,000-gallon storage tank and a fleet of residential tanks.
- An advanced, digital system that ensures delivery drivers have precise data, allowing for seamless “on-demand” service and 24/7 emergency response.
Federally-backed capital, local Impact
In a region facing a housing crunch, building at all times of the year is essential. The Peters have been able to provide things like propane heaters to construction sites, allowing builders to work through the night and during cold stretches when materials like concrete have to be warmed. This has allowed essential housing projects to stay on schedule and keep costs low.
Their commitment to the “locals’ rate” is a core tenet of the Peters Propane business model. After years of seeing high markups from out-of-county vendors, Shad and Camille are determined to keep prices fair for the people who live and work in Moab.
“We don’t want to be millionaires,” said Camille. “We want to feel really good about the product we’re providing. When we see people in the community, we want to know we’ve done good things.”
Momentum and the future
With the business finally “rolling” after a few challenging initial months, the couple is already looking at the next horizon. Their “tiny dream” is expanding into wholesale fuel and potentially a local gas station to provide better pricing for local rental companies and residents alike.
Through USBCI, this small business moved from vision to reality, creating jobs, supporting local development, and delivering a crucial service to the community. It is a testament to what happens when local grit finds the right financial support.
As Camille puts it: “It’s our turn to take what you’ve given us and turn it into our dream.”
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Sources:
- Mary Milodragovich – MoFi
- New propane company starting up in Moab – The Times Independent