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Preserving a 60-Year Legacy Through SBA 504 Financing - BLP - Business Lending Partners
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Preserving a 60-Year Legacy Through SBA 504 Financing

City of Racine, WI – Founded in Racine in 1965, Pioneer Products has built a strong reputation for precision CNC machining, grinding, plating, heat treating, and engineering services. Now, the company has entered a new chapter through an ownership transition that will keep the business in the hands of an experienced team committed to its long-term success.

BLP and Community State Bank help finance Pioneer Products’ employee-led ownership transition

Tom Schaefer, CFO of Pioneer Products, led the acquisition alongside a group of employee-owners and manufacturing professionals with decades of combined experience in sales, engineering, and quality management. By purchasing the business from the founder’s descendants, the new ownership team will maintain the company’s legacy and position it for continued growth.

To support the acquisition of Pioneer Products, Robert Pieroni, Chief Lending Officer at Community State Bank, partnered with Business Lending Partners (BLP) to finance the purchase of the company’s facility through the SBA 504 Loan Program. Community State Bank provided 50% of the project financing, while BLP funded 40%, enabling the new ownership group to acquire both the business and its real estate with a 10% down payment.

The financing solution made the ownership transition possible, preserved capital for future investment, supported the creation of 30 new full-time jobs, and helped ensure Pioneer Products remains a strong contributor to Racine’s manufacturing sector.
Pioneer Products Racine WI
Learn More about the SBA 504 LOAN PROGRAM

Another exciting aspect is that this financing project marked a milestone between BLP and Robert Pieroni. This loan, the 10th in a string of SBA 504 loans, earned Robert the distinguished title of “BLP Slugger” and his second personalized bobblehead award as a member of the BLP Heavy Hitters Club. The club recognizes lenders who have partnered with BLP on SBA 504 projects, celebrating their continued commitment to helping businesses access financing through BLP.

Whether you’re acquiring a business, purchasing real estate, or planning for future growth, BLP can help structure a financing solution that meets your needs. Contact our lending team at info@BLP504.info to discuss your project and learn more about the SBA 504 Loan Program.

BLP is the finance team for the Racine County Economic Development Corporation (RCEDC). Every project must be evaluated and reflect an element of community development.

 

BLP, with offices in Racine County and Brown County, is licensed to serve businesses and collaborate with banks throughout Wisconsin. Its commitment to supporting small businesses and enabling franchise growth has made it a trusted partner for entrepreneurs seeking to leverage the benefits of SBA lending programs.

 

Learn more about the SBA 504 loan program by visiting blp504.org/sba-loans.

CONTACT US FOR YOUR BUSINESS LENDING NEEDS

Grace Kieckbusch
Grace Kieckbusch
Vice President & Loan Officer
Grace Kieckbusch is a commercial lender who loves finding financing solutions that help small businesses thrive. A Magna Cum Laude graduate of UW–Parkside, she began her career at BLP after interning with the team during college.
Green Bay Office920.384.0385Grace@blp504.org
Todd Schalinske
Todd Schalinske
Vice President & Loan Officer
Todd Schalinske brings nearly four decades of experience in the banking and finance industry. A lifelong Southeast Wisconsin resident, he helps business owners secure the financing they need to grow, with expertise in commercial, mortgage, and SBA lending.
Racine Office262.898.7436Todd@blp504.org

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