SBA 504 Loan Funded: Midwest Metal Fabrication invests $4M - BLP - Business Lending Partners

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SBA 504 Loan Funded

$4M Investment Fuels New Chapter for Midwest Metal Fabrication

Founded in 1940, AT&F’s Manitowoc operation specializes in heavy metal fabrication for the mining, construction, transportation, and defense industries, producing large-scale components and providing cutting, machining, and welding services. The business is being acquired by longtime Business Unit Leader Jason Scheidt, who will continue serving the operation’s established customer base under the new name Midwest Metal Fabrication. To support the acquisition of the business, real estate, and equipment, Business Lending Partners (BLP) partnered with Brad Dassler and Cleveland State Bank to structure a financing package that will help ensure a smooth ownership transition and position the company for continued success.

Midwest Metal Fabrication

Industry: Heavy metal fabrication

Location: Manitowoc, WI

Program: SBA 504 Total Project Cost: $4,036,500 Uses: Business acquisition & purchase of real estate and equipment Down Payment: 10%

CONTACT US FOR YOUR BUSINESS LENDING NEEDS

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 Office920.384.0385 Grace@blp504.org

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 Office262.898.7436 Todd@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!