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SBA 504 Loan Funded: Cultural Cloth Invests $1M - BLP - Business Lending Partners

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SBA 504 Loan Funded

All Hands on Deck with Over $1M Investment

Cultural Cloth

Consumer Goods

Location: Whitefish Bay, WI

Program: SBA 504 Total Project Cost: $1,017,000 Uses: Real Estate Purchase Down Payment: 15%

“Cultural Cloth was a deal referred to us by BLP. From the onset it was clear that the business and the owners were well established and positioned to take on a second location. Even with an unforeseen obstacle within a week of the scheduled closing, we were able to pivot quickly. In the end, this was all hands on-deck with BLP, Tri City National Bank and Milwaukee Economic Development Corp (MEDC) all working together to help these business owners realize a dream of theirs.”

Dan Franecki

Senior Vice President | Commercial Lending , Tri City National Bank

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!