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SBA 504 Loan Funded: The Copper Dock Invests $1.39M - BLP - Business Lending Partners

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SBA 504 Loan Funded

$1.39M Investment Supports Legacy and Growth at Historic Hubertus Restaurant

The Copper Dock

Industry: Full-Service Restaurant

Location: Hubertus, WI

Program: SBA 504 Total Project Cost: $1,388,000 Uses: Purchase of real estate & equipment Down Payment: 19.5%

BLP, in partnership with Joel Benz of Waukesha State Bank, secured an SBA 504 loan to support the purchase of real estate and equipment for The Copper Dock, a fine dining restaurant on Friess Lake in Hubertus. New owner Shreyansh (Shrey) Devani, an experienced restaurateur with two other successful supper clubs, will continue the restaurant’s tradition of steaks, seafood, and lakefront dining while modernizing operations. With seating for 150 guests and roots dating back to 1930, the project preserves a community favorite and positions it for long-term success.

CONTACT US FOR YOUR BUSINESS LENDING NEEDS

Grace Kieckbusch

Vice President & Loan Officer

Vice President & Loan Officer with a degree in Finance from the University of Wisconsin - Parkside.

Green Bay Office920.384.0385 Grace@blp504.org

Wesley Walsh

Vice President & Loan Officer

Wesley Walsh is a commercial lender passionate about helping small businesses. A Magna Cum Laude graduate of UW-Eau Claire, he’s interned at Associated Bank and worked at Tri City National Bank.

Racine Office262.898.7436 Wesley@blp504.org

The Small Business Administration (SBA) is broadening the definition of “small business” to include larger businesses. This means that even more businesses are eligible for SBA financing.

The adjustment reflects a 34.46% increase to accommodate inflation since the last interim size standard update in 2010. The Final Rule, consistent with the Proposed Rule from July 28, 2023, is adopted unchanged.

Additionally, the SBA will routinely evaluate inflation and economic indicators, making size standard adjustments as needed. The Alternative Size Standard for inflation will adhere to the established five-year schedule for reviewing monetary-based industry size standards.

WHY SBA 504?
The SBA 504 program enables you to serve your current clients while also obtaining new prospects. Through this program, you can enhance your commercial financial portfolio, positioning your institution as an innovative and strategic partner for your clients.

WHY BLP?
BLP is a Certified Development Company (CDC) serving all of Wisconsin. As a financial partner, clients know they’re not just another number. Our partners benefit from having one contact – start to finish. Reduce risk, lend more, grow your portfolio!