Building purchase increases visibility of business


 

Business Proformance PC and Graphic Sign Shop
Lending partner Tri City National Bank
Owner Kevin Fitzpatrick
Location City of Union Grove
Project Building purchase
Jobs creating 2 jobs in 2 years
Financing source Economic Development Administration Revolving Loan Fund (EDA-RLF)

Kevin Fitzpatrick has been in operation for the past twelve years. With his graphic design skills and experience in the industry, Mr. Fitzpatrick has been running two growing businesses: Proformance PC and Graphic Sign Shop. Seeing the gap for the market of in-house computer and laptop repair services, Kevin launched his business-Proformance PC to serve the need for the Southeast Wisconsin area. They offer the best in computer on-site and in-store services which includes: drop-off service, program software installation, virus removal, remote support and data recovery. Graphic Sign Shop offers printing for both large and small format printing projects.

Justin(left) and Kevin (right) working at their new facility

The businesses quickly outgrew their leased space in a strip mall on the far-east side of the Village of Union Grove. To increase their visibility and retail space, Fitzpatrick decided to purchase the building at 1200 15thAvenue in Union Grove. There are also garages in the back of the building that provide space for Graphic Sign Shop to start taking on larger print projects. Kevin estimates the move into the new building will reduce production time by up to 50%. Additionally, the exterior building renovations conducted after Kevin purchased the building have already had a positive community impact as a vacant building in the Village is now filled with a thriving business and a creative storefront window displays. The company is committed to create an additional two new jobs over the next two years. When asked how we [Business Lending Partners, a division of RCEDC] helped secure the purchase, Mr. Fitzpatrick said:

“If it wasn’t for the façade and rent assistance grants provided by the Village, my purchase of this building would not have come to fruitition. In fact, without the loan assistance from BLP, we would not have gone through with the purchase. We were able to use the savings realized from a very low-interest rate loan we received from the Village to devote to making extensive building renovations; turning this worn down building into an eye-catching renovation that many people have given me compliments on undertaking ”

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SBA 504

June 2017

20-Year Fixed Rate:

4.596%

10-Year Fixed Rate:

4.514%

Historical Rate Graph