![](media/image1.png){width="1.979861111111111in"
height="1.0083333333333333in"} ***News Release***

New York District Office

Release Date: August 28, 2006 Contact: John Miller (212) 264-7770

Release Number: 06-36 e-mail: john.miller@sba.gov

***Small Business Succeeds Where***

***Big Business Checked Out***

**West Hurley, NY**--- For years, residents of this and nearby towns
like Woodstock were accustomed to doing their grocery shopping at that
northeast icon, the Grand Union Supermarket. But the grocery behemoth,
for whatever reason, shuttered its doors in 2002.

To the relief of shoppers, local businessman Bill Epstein and wife
Barbara decided to expand the 2,500 square-foot Hurley Ridge Market they
had purchased in 1986 and was adjacent to their pharmacy on Rt. 375. The
business has since grown to over 24,000 square feet with a lot of hard
work and a financing program provided by the U.S. Small Business
Administration. The immac-ulately clean, spacious and well-stocked store
has been boasting growth of between eight and nine percent a year since
its remodeling and expansion in 1999. Decidedly more upscale than the
area supermarket that preceded it, Hurley Ridge has also become a major
employer in the area with

78 employees.

Interestingly, Bill and Barbara, a pharmacist and nurse respectively,
had never operated a grocery store prior to Hurley Ridge. They did,
however, know how to operate a small business from their experience with
their pharmacy. The pharmacy, established in 1970, was incorporated into
the market in its initial stages. Their son, Mike, joined his parents
after attending school for hotel/motel hospitality and after taking a
stab at butchering.

The Epsteins knew a well-run market was needed in the area and when the
appropriate space became available for purchase they took the plunge.
They also took advantage of the consulting services offered by their
Minnesota-based wholesaler, Supervalue, for store layout, product
selection, design and discounted equipment purchases.

The 1999 building purchase was made possible by the SBA's 504 Loan
Program which guaranteed a \$465,000 portion of the entire loan. The 504
loan involves three partners extending the credit\-\--the SBA, a private
lender which in this case was Key Bank, and what is known as a certified
development company, which was the Empire State Certified Development
Company. The Epstein's returned to the same loan program in 2003 to
finance the purchase of additional space. The SBA guaranty for the
second loan was for \$861,000.

Page 1 of 2

Hurley Ridge is definitely a family-run business, with Mike's wife,
Tzeitel, working in the office and their three children among other
family taking stints at various jobs throughout the store. Perhaps it's
that family spirit that has the Epsteins providing health insurance to
their employees at reasonable rates.

The Epstein's are proof that big business might not always have the
answers\-\-- and sometimes may have to bag it and check out. On the
other hand, with hard work, business savvy and family values, the small
guy can prevail.

*Photo available upon request.*

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*All of the SBA's programs and services are provided to the public on a
non-discriminatory basis. For more information about the SBA please
visit [www.sba.gov/ny/ny](http://www.sba.gov/ny/ny).*