Gap financing helps Brookfield manufacturer expand

The City of Brookfield and the Waukesha County Economic Development Corp. (WCEDC) announced the first joint funding to help a Waukesha County manufacturing firm expand.
The Waukesha County Revolving Loan Fund Program has partnered with the new City of Brookfield Development Loan Program to provide gap financing that will add capacity and five jobs over two years for Components Company Inc. (CCI), a 75-year-old industrial supplier to original equipment manufacturers located in Brookfield. The City of Brookfield and the WCEDC are providing $150,000 in gap funding.
CCI supplies OEM’s in the medical equipment, industrial supply, agricultural and motorcycle markets, including customers such as Harley-Davidson Inc. The gap financing will enable CCI to purchase new and more efficient equipment, such as cable wire processing and auto baggers, dramatically improving delivery times and reducing costs for CCI’s major clients.
"This deal shows that the City of Brookfield and Waukesha County are committed to expanding businesses, especially given the challenging economic climate," said Joe Wittig, president and chief executive officer of CCI. "With this additional loan financing we will be able to add equipment and jobs to our manufacturing operations. As a small business owner, I am glad to see that my own city and county are dedicated to helping me succeed and grow.”
"While we treasure the presence of major employers in the county, by helping small businesses add more efficient production capacity, we create a win-win by keeping the supply chains for these anchor businesses competitive – and local," said Bill Mitchell, executive director of the WCEDC.
Brookfield Mayor Steven Ponto said, “Components Company, Inc. was one of the first companies in our Gateway West Commerce Center. They are a first-rate employer, and provide higher wage manufacturing jobs, with benefits, that are highly sought after in this challenging economy.”
– BizTimes Milwaukee