Top Paws Pet Grooming
Top Paws Grooming, a pet grooming service in downtown Union Grove, successfully secured financing to purchase a building they currently occupy at 1033 Main Street, Union Grove. The business has consistently grown throughout the years by word of mouth, and services customers from Western Racine and Kenosha Counties.
Top Paws is solely owned by Tammy Foldy, and has been in operation since 2011. She not only is the owner and operator of Top Paws, but works as a groomer as well. Purchasing the building will secure a space for the business for years to come without disrupting their customer base.
BLP's financing gave us the opportunity to purchase our building with less money down leaving cash to invest in the business. BLP's staff worked one on one with me to walk me through the entire process. They worked with my Lender directly eliminating the need to provide duplicate information. The long-term, fixed-rate loan provides reduced monthly payments allowing my business to grow. I would recommend BLP to anyone looking to grow or start a business because of their knowledgeable staff and the variety of financing options they provide.
Owner, Top Paws
BLP partnered with Tri City National Bank to provide 90% of the funding. The Economic Development Administration Revolving Loan Fund (EDA RLF) used to secure the financing is a specialized loan fund accessible only through BLP and RCEDC. The funds are used to provide gap financing to small businesses reducing the borrower’s equity requirement and providing attractive rates and terms to assist growing businesses.
By being able to secure 90% financing through this loan program, the business is able to use its own cash reserves to add two employees so they can serve more clients and reduce their wait list.
Loan Officer, BLP
BLP provided financing to First Call through a Racine County Loan Fund in partnership with Johnson Bank. BLP partnered with Johnson Bank to provide 94.4% of the funding. This partnership allowed the customer to secure over 90% financing for the purchase of the new location reserving the Company’s own cash to grow the business. The intended use of the Racine County Loan Fund is to provide gap financing to small businesses, reducing the borrower’s equity requirement and providing attractive rates and terms to assist growing businesses. Priorities like adding to the economy and job creation, which were met, are necessary for use of the loan program.