Success Story Featuring M&M Gymnastics


 

Business M&M Gymnastics
Lending Partner Tri City National Bank
Owner Jeanelle & Andrew Memmel
Location New Berlin, Waukesha County
Project Building Purchase 
Jobs Creating 8
Financing Source U.S Small Business Administration (SBA 504)

Owners Jeanelle and Andrew Memmel have been involved in the sport of gymnastics for over 30 years. In 1992, they created M & M Gymnastics and have dedicated their lives to sharing their love of this healthy sport in a positive environment with children and families. The company offers a wide variety of development programs for boys and girls of all ages to help students develop coordination and strength, increase flexibility, and gain self-confidence.

M&M Gymnastics has been growing and expanding since it was created as a small gymnastic facility serving only 200 students. The company has occupied 16770 W. Victor Road, New Berlin, since 1997. The owners have invested significantly in building improvements, expanded their occupancy from 50% to 100% to accommodate their growing business and finally decided to purchase the facility. The purchase enables the Memmel's to grow their business further and create eight full-time jobs in their pursuit to help more young gymnasts succeed.

M&M has already added four new employees and is consistently adding more classes for the 600 and growing students. The facility can handle double that capacity and the Memmel’s are excited and motivated to continue this growth in the place they can now call their own. The Memmels believe that gymnastics and dance are the most comprehensive physical activity for today's youth. They believe a family friendly gym is where children will learn and develop healthy habits for a lifetime of fitness.

BLP staff in partnership with Tri-City National Bank assisted M&M in financing their building purchase through an SBA 504 loan. The loan only required a 10% down payment which allowed the owners to reserve their cash for other business needs. Jeanelle Memmel indicated the process was a lot of work but enjoyed working with BLP staff and they completed the task as a team. She further stated, “5 years ago when I was thinking about the purchase, I thought it would be too difficult and I was nervous but I was guided through it by BLP staff and I want to encourage others not to be afraid and to get the help and try it.”  

SBA 504

November 2017

20-Year Fixed Rate:

4.51%

10-Year Fixed Rate:

4.47%

Historical Rate Graph