MR Diagnostic Doubles Workspace with New Building Purchase
KENOSHA, WI – Robert Decker spent most his professional career selling and servicing lab testing equipment. His son, and former member of the U.S. Air Force, Dustin Decker, utilized that knowledge to create a successful company, MR Diagnostic Service, that now boasts a remarkable track record of continued sales growth.
Dustin and his family have outgrown the storage units they were operating from and successfully purchased a 2,460 sq ft building on a .26-acre property in Kenosha using a Small Business Administration (SBA) 504 loan, requiring low down payment and providing a long-term fixed interest rate.
“The SBA 504 program was perfect for us and our long-term business ideas,” said Decker. “We wanted a loan that would stay the course as we do. The 504 loan is fixed and with the lowest rates in a very long time, we know that our payments won’t jump up and down with the market.”
MR Diagnostic began in 2015 when Dustin asked Robert, Julie Decker, his stepmother, and his brother, Samuel Decker to help with this venture. While Robert and Julie serve mainly as consultants, Samuel works as a service technician, and all hold partial ownership of the company.
The three main sources of revenue generated by MR Diagnostic are the sales of refurbished laboratory equipment, the servicing of this specialized equipment and the sales of consumable parts they acquire for equipment they don’t sell.
Leaning on the strength of the growing business and the backing of a veteran-owned company, Community State Bank partnered with Business Lending Partners (BLP) and the SBA to meet financial needs of Dustin and his family.
“Dustin had a great opportunity to expand the business and purchase their own facility,” said Robert Pieroni, Market President of Commercial Banking at Community State Bank. “Thomas [BLP Loan Officer] was there for all of mine and Dustin’s questions, and as a veteran, Dustin certainly appreciated the lower cost fees provided by BLP due to his service.”
BLP serves as the financial division of RCEDC (Racine County Economic Development Corporation) and the lower cost fees referred to by Pieroni are part of the RCEDC Veteran Advantage Program, waiving half the processing fees for veteran-owned businesses.
The building purchase will allow MR Diagnostic to consolidate their business functions, hire additional employees and ultimately expand their sales.
“Thomas and his team were up-front, honest and helped with all the nuances we weren’t accustom to,” said Decker. “Great experience with a great team.”
Business Lending Partners (BLP) is a U.S. Small Business Administration (SBA) Certified Development Company (CDC) specializing in processing and servicing SBA 504 loans throughout the State of Wisconsin. BLP has been certified since 1985 and currently has two Wisconsin headquarters, one in Racine and one in Green Bay.
As a division of the Racine County Economic Development Corporation (RCEDC), BLP has knowledge and access to local, State and Federal partners to successfully assist in completing a variety of projects.
For more information about this project and how your company may be eligible for similar incentive programs, contact Carolyn Engel at 262-898-7420 or visit blp504.org.