Financial Collaboration Benefits New Burlington Multi-Use Space
Burlington, WI – Bevin Dawson, owner of The Loop Properties and a Burlington native, is redeveloping a challenged property in Burlington’s loop area. The once prominent, historic hotel and bar, located at 488 Milwaukee Ave. will be fully renovated to honor the building’s history. Soon it will be home to a climbing gym, coffee roaster, co-working space, full-time offices, photo studio, and podcast studio.
With a solid business plan and vision in hand, Dawson sought out financial partners to help him implement his dream. He attributes the successful financial strategy of this project to Greenwoods State Bank and Business Lending Partners (BLP), Racine County Economic Development Corporation’s (RCEDC) financial specialty area.
“They [BLP] have their fingers on the pulse of what resources are available, how commercial banking works and how to structure projects in a seamless way,” Dawson said. “Most importantly, they know how to work with public officials to accomplish shared goals and support business growth.”
Dawson successfully applied for and received grant dollars from the Burlington Matching Grant Program (MGP), which was designed to assist development that furthers the goals and objectives of the City of Burlington’s Strategic Plan (burlington-wi.gov/DocumentCenter/View/1352/Burlington-Strategic-Plan-2016-2019).
The main element driving Dawson’s concept is the promotion of business collaboration that increases foot traffic in downtown Burlington. Dawson believes starting multiple businesses will have an impact on other retail opportunities and increase activity for other businesses in Burlington’s historic loop.
“We spent a long time deciding how to provide big-city amenities to our bustling small town, without compromising the quaint atmosphere that attracted us all here in the first place,” Dawson said. “Other business owners should contact BLP because the application process was easy, they have the interests of our communities in mind, and they want to invest in small towns like ours to promote small businesses.”
Since 1983, the Racine County Economic Development Corporation (RCEDC) has executed its financial lending services through Business Lending Partners (BLP). Approaching 40 years of operation, BLP has administered nearly $600 million to 500+ businesses throughout Wisconsin.
BLP is the only Certified Development Company (CDC) headquartered in Southeast Wisconsin and manages an office in Green Bay. Specializing in processing and servicing SBA 504 loans, BLP utilizes local, State and Federal partners to successfully assist in completing a variety of projects.
For more information about BLP or to learn how your company could benefit from available financial programs, contact Carolyn Engel at 262-898-7420 or visit blp504.org.