Classic Scooters USA


Classic Scooters USA Businss Lending Partners


RACINE, WI -- Antoine Louly of Classic Scooters USA is financially set to begin his expansion project that will consolidate operations, conjoin business efforts with a long-time mentor, and renovate a City of Racine building.

Louly plans to purchase and renovate the building located at 1400 Martin Luther King (MLK) Dr. in Racine. The building is currently occupied by Gordon Auto Parts, a 100-year-old business owned by Max Gordon, a friend of Louly who will remain on site as an employee of Classic Scooters. Gordon brings with him over 40 years of experience, a large volume of loyal customers, and a catalog of auto parts Louly will utilize for additional revenue through his online store.

“Beginning a new phase of business operation is never easy, but the decision to continue the legacy of a 100-year-old company was. Working with Max will provide us with an incredible amount of resources and knowledge that will directly contribute to our success.”

Antoine Louly
Owner, Classic Scooters USA

Gordan, now in his 70’s, enjoys the socializing that comes with owning Gordan Auto Parts, but is no longer interested in running the business. Louly will use the renovated building predominantly as a storefront, service center and storage facility for Classic Scooters, however, it also has capacity to accommodate two additional commercial tenants. Louly will dissolve operations from his current Racine location on Douglas Ave. and utilize the bulk of the lending on land purchase and renovations at the new MLK location.

“It is encouraging to see a small business like Classic Scooters USA grow their own operations in the City. This will be a great addition to the Lincoln-King neighborhood, and another example of both the public and private sectors working together to get things done.”

Cory Mason
Mayor, City of Racine

Business Lending Partners (BLP) and Johnson Bank utilized the City of Racine Revolving Loan Fund (City RLF) to provide gap financing which reduced Louly’s equity requirements and provided an attractive fixed-rate financing solution.

"Businesses like Classic Scooters are the economic drivers of our communities. I’m pleased to partner with BLP on these types of projects that continue to grow our community."

Andrew Dodge
Vice President, Commercial Banking, Johnson Financial Group

This expansion includes benefits such as additional outside income to support the business, rental income to support the debt service, experienced management, and it will restore an old building located in a struggling neighborhood.

Classic Scooter’s expansion is a great example of combining available resources to assist a growing organization with a product that meets the needs of the market. It also shows the diversity of every business owner’s circumstances, and how flexible the resources available can be.

"It has been an adventure, but I am proud of how far we've come and I'm looking forward to the opportunities that await. With help from Karmin and the team over at BLP, Classic Scooters has all the resources necessary to really expand and reach the level of success I know we're capable of."

Antoine Louly
Owner, Classic Scooters USA

DOWNLOAD PRESS RELEASE

SBA 504

June 2019

25-Year Fixed Rate:

4.090%

20-Year Fixed Rate:

3.983%

10-Year Fixed Rate:

4.365%