Arkansas Small Business and Technology Development Center

University of Arkansas at Little Rock - College of Business
Donald W. Reynolds Center for Business and Economic Development
2801 S. University / Little Rock, Arkansas 72204
Phone: (501) 683-7700   Fax: (501) 683-7720

Honda Power Sports of Fort Smith, Inc.
Jeff Dumboski, Owner
Fort Smith, Arkansas

Power Sports of Fort Smith is the primary retail dealership for Honda and BRP (Sea-Doo and Can-Am) products in an eight county area. The product line includes motorcycles, all-terrain vehicles, dirt bikes, scooters, personal watercraft, and lawn and power equipment. The dealership also services what it sells, and has both a parts and an accessories store.

Although the business has been in existence since the late 1960's, it was purchased in May 2003 by an off-site owner who brought in Michael Pate as General Manager and 20% owner. Under Pate's management, the dealership returned 100% of original capital plus interest in just two years and nine months. In May 2007 Pate decided it was time to buy the other 80% and approached Simmons First National Bank in Fort Smith about a loan. The bank referred Pate to Vonelle Vanzant, Center Director at the UA Fort Smith Small Business Development Center, for assistance with a business valuation in anticipation of a SBA-guaranteed loan. Once the valuation was complete, Vanzant assisted Pate in assembling the SBA loan package. The SBA approved the buyout loan for $920,000 in July.

After the transfer of the dealership was approved by Honda and BRP, the loan closed in October. Now, Pate is excited about taking the dealership to the next level and continuing to provide the products and service that made Power Sports of Fort Smith the premier power sports outlet in western Arkansas.


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The Arkansas Small Business and Technology Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. It is the goal of UALR to eliminate discriminatory harassment and to promote equal opportunity regardless of race, gender, color, national origin, sexual orientation, age, religion, veteran's status, or disability.