GREGG’s Restaurants and Pubs, which was built around its desserts, is one of two Rhode Island companies to have created more than 100 jobs thanks to U.S. Small Business Administration financial assistance. Pictured is the most popular desert choice at Gregg’s, the SBA said. COURTESY U.S. SMALL BUSINESS ADMINISTRATION

By Denise Perreault
PBN Staff Writer
Twitter:@DenisePerreault

8/26/11

PROVIDENCE – Two Rhode Island small businesses are among 100 companies in the nation that each created at least 100 jobs since receiving financial assistance from the U.S. Small Business Administration.

The businesses are Gregg’s Restaurants and Pubs, a chain located only in Rhode Island with four sites in the state, and Versatile Marketing Solutions, doing business as VMS Alarms based in Warwick.

In 1972, Gregg’s opened its first eatery in Warwick with 45 employees working in a 130-seat restaurant and a menu limited mainly to deli-style sandwiches, soups, salads, a bakery, and beer and wine.

Longtime vice president of operations Bob Bacon and his wife, Bobbie, bought the restaurant group in January 2009 with an SBA 504 loan, an integral part of the acquisition process, the agency said.

“With the continuity of management, the transition was seamless for Gregg’s staff, which has grown to more than 450 [employees],” said the news release from the Providence SBA office.

Versatile Marketing Solutions began operations in 2003 from CEO Jay Gotra’s apartment with a phone line and a business plan. He and two associates, Brian Fabiano and Barry Crins, both vice presidents of the company, had worked for a large home-alarm company where they learned “every facet of the business,” the SBA said.

The VMS Alarms company has since doubled its senior sales staff and added more than 120 administrative, installation and sales positions between August 2009 and August 2010. The business projects $19 million in revenue for 2011.

“I am pleased that two outstanding Rhode Island firms have been recognized nationally by SBA for their significant job creation,” said Mark S. Hayward, director of the SBA Rhode Island District Office.

“Gregg’s is a Rhode Island tradition in the hospitality industry while Versatile Marketing Solutions is making its mark nationally in the home security alarm industry.”

The 100 companies include businesses in a variety of industries, from manufacturing to food and beverage to shipping companies.

Each business received support in the form of capital, contracting, counseling or investment and, SBA officials said, are representative of the diverse array of businesses that stand to benefit from SBA assistance.