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SBA 504 Loan Funded: Renaissance Assisted Living Invests $665K - BLP - Business Lending Partners

20300

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SBA 504 Loan Funded

Assisted Living Facility Begins New Chapter with $665K Investment

Renaissance Assisted Living LLC

Industry: Nursing and Residential Care

Location: Bayside, WI

Program: SBA 504 Total Project Cost: $665,000 Uses: Purchase of real estate & equipment Down Payment: 20%

White Birch Terrace, a long-standing assisted living facility in Bayside, Wisconsin, is entering a new chapter under the ownership of Renaissance Assisted Living LLC. The new owners, Joseph and Stephy Puthusseril, bring over 50 years of combined nursing and management experience and are committed to continuing the facility’s tradition of high-quality, community-based care. To support the purchase of the real estate and equipment, they reached out to Joel Benz, VP – Commercial Banking Officer at Waukesha State Bank, and Business Lending Partners (BLP) to secure SBA 504 financing. This collaboration ensures long-term stability for the facility and its residents while preserving an important resource for the community.

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!