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Spanky’s Sports Bar & Grill Expands Thanks to BLP and SBA 504 Financing - BLP - Business Lending Partners
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Spanky’s Sports Bar & Grill Expands Thanks to BLP and SBA 504 Financing

Village of Waterford, WI – Since opening in 2017, Spanky’s Sports Bar & Grill in Waterford, WI, has been on an impressive growth trajectory thanks to the expertise of owners Matt and Karen Allen.

Matt’s background in marketing and sales management, honed over 17 years in the consumer products industry, has driven Spanky’s steady profitability. Karen has been vital to the bar’s operations from day one, drawing on her experience in the food and drink industry.

In 2018, after a full kitchen renovation, Spanky’s began serving their now-famous thin-crust pizza, which, along with other homemade favorites, helped cement their reputation as a neighborhood staple. By 2020, the Allens purchased the property they had been leasing, but demand soon outgrew the space. With carryout orders booming and long wait times becoming common, a larger facility became essential to meet growing demand and streamline operations.

Matt Allen owner of Spanky's Waterford
Matt Allen and guests at Spanky's Waterford
Matt and Karen Allen owners of Spanky's Waterford

BLP’s Wes and Diane were incredibly helpful in assisting me with the details needed to obtain the SBA loan for the Allens. Being proactive in their follow-up kept our funding schedule on track and the client is very happy with the results.

Jay Cashmore VP Market President at Community State Bank

Jay Cashmore

VP Market President at Community State Bank

To support their growth, Matt and Karen partnered with Community State Bank for financing options. With help from Jay Cashmore, the bank collaborated with Business Lending Partners (BLP) to secure an SBA 504 loan. The project was funded with 50% from Community State Bank, 40% from BLP and SBA 504, and only a 10% down payment from the Allens.

The new building has nearly tripled Spanky’s square footage, allowing them to expand kitchen capacity, improve efficiency, and add a takeout window to better serve customers. With the expansion, Spanky’s will create 7.5 full-time equivalent jobs. The Allens’ vision and careful planning have laid the foundation for Spanky’s continued success as a veteran-owned business in rural Wisconsin.

Thanks to Community State Bank and BLP for being such a vital part of our journey. Their support in helping us secure the SBA 504 loan has made a world of difference. With their guidance, we’re now able to expand our facility and better serve our amazing customers. We truly couldn’t have reached this milestone without them.

Matt and Karen Allen owners of Spanky's Waterford

Matt and Karen Allen

Owners of Spanky's Sports Bar & Grill

Spanky’s is located at 403 S. 6th Street in Mercury Business Park, Waterford, WI. Their hours are Sunday 11:00 AM – 8:00 PM, Monday 3:00 PM – 10:00 PM, Tuesday-Thursday 11:00 AM – 10:00 PM, and Friday-Saturday 11:00 AM – midnight.

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 and Green Bay, 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.

SBA 504 LOAN PROGRAM
wesley walsh blp
Wesley Walsh, Loan Officer at Business Lending Partners
Learn More about the SBA 504 LOAN PROGRAM

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