Local company gets boost from Shad Khan
Dieselogic gets $1 million dollar loan
A family business on the Westside is getting a boost by Jaguars owner Shad Khan.
Khan offered the owner of Dieselogic, Omar Cueto, a $1 million loan to develop his business.
"I had to look over at my operations engineer, Syd, and I said, 'Can you pinch me?' Because I think I'm dreaming,'" Cueto said. "It was very interesting, it was a blessing, it was hard to believe and it took a while to settle in."
Dieselogic sells re-manufactured diesel injectors and fuel systems for the auto repair industry.
For the last five years, Dieselogic's mission has been developing a cutting edge technology that's more environmentally friendly. Since it has devoted all resources to developing the system, getting a traditional loan would have been difficult.
Thanks to a referral from the Jacksonville Chamber of Commerce, Cueto's invention is now in the spotlight.
"It's a big puzzle. Mr. Khan can see through that he sees the technology, sees we're a viable business, and as an entrepreneur to another he can certainly say, 'Hey, I think this is something that's very good for the community of Jacksonville,'" Cueto said.
The loan will also help the company to hire 20 employees over the next three years.
"We're hiring a wide range of different jobs. Mostly in the assembly manufacturing line we're hiring engineers, we're hiring some inventory specialists and inside and outside sales," Cueto said.
In the next four months, Dieselogic is moving from its current facility on Lenox Avenue to a new facility on Stockton Street.
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