Prophit Refinances with SBA 504 Program
GREEN BAY, WI – Joe and Danica Kiedinger are entrepreneurs living the American dream. With the help of the Small Business Administration (SBA) 504 loan, they were able to obtain a bank loan large enough to purchase a foreclosed building in downtown Green Bay. Now, the building is home to their dynamic marketing firm (Prophit) with a team of 19, a successful salon (Salon Fifty Four) with 17 stylists, and a restaurant (May’s Egg Rolls) with an average of four employees at any given time.
Joe and Danica utilized the SBA 504 loan during the recession. It gave their bank the confidence to approve the loan, which allowed them to share the rent with two other businesses. This provided stability and gave Prophit flexibility, while allowing Joe and Danica to reinvest in the business.