MEDC loans

The Milwaukee Economic Development Corp.’s (MEDC) Loan and Finance Committee has approved six loans, including one for an Ace Hardware store on West North Avenue in Milwaukee.
Cunningham’s Ace Hardware received a $300,000 MEDC loan to convert the former Uptown Shop-Rite grocery store at 5020 W. North Ave. into a 13,300-square-foot Ace Hardware store in the Washington Heights neighborhood.
Members of the Cunningham family will offer hardware products and repair services that appeal to the owners of older homes surrounding the store.
The business expects to employ four full-time workers and will add seven part-time employees.
Lincoln State Bank is also participating in the $1 million project.
MEDC’s loan committee also has approved financing totaling $1,119,900 that will leverage $4.3 million in investment in other projects.
Gilo Photography, Inc., received a $122,000 loan from MEDC to assist with a move to 621-23 S. Second St.. The new location is a two-story building that was completely renovated to accommodate the residential and business needs of the company.
Jane and David Geilenfeldt started Gilo Photography, Inc., in 1985. The business specializes in high-quality commercial and advertising photography for advertising agencies and corporations around the state.
The company employs two full-time people and expects to add one employee full-time to accommodate growth.
Participating in the $306,000 project is Layton State Bank.
St. Paul Veterinary Clinic, located at 2620 W. St. Paul Ave., has been operating since 1986 at that site. The business has no parking and the practice is at capacity in its current space. The owner, Marie Losch, will use a $204,000 MEDC loan to construct a new 5,700-square-foot veterinary clinic at 431 N. 27th St., which is around the corner from the current business location.
The new site will have an extra 2,700 square feet of clinic space over its present 3,000 square feet of rental space. The business will double the number of operating rooms, provide more kennel space and eliminate current parking problems by adding space for 40 parking stalls. The company expects to add five full-time jobs to its staff of 16 employees.
Tri City National Bank also participated in the $540,000 project.
Old World Brewery received a $300,000 MEDC loan. The opportunity arose to purchase a new building for the business in City Hall Square at 769-71 N. Water St.
Old World Brewery will be a 225-seat restaurant and brewpub. The three-story building has 24,000 square feet of space.
Lincoln State Bank also participated in the $1,510,000 venture.
National Baking Co. Inc., received a $131,000 MEDC loan to finance expansion at 3200 S. 16th St. and at a second retail location at 12430 W. National Ave. in New Berlin.
MEDC had originally reviewed a loan for the company’s operation on South 16th Street in November 1997. The company re-evaluated its original plans and has decided to expand at both locations.
The company expects to add two full-time employees to its current staff of 26 full-time and 17 part-time workers.
Firstar Bank participated in the $328,000 amendment of the project.
Lakefront Brewery, Inc., received a $62,900 loan amendment from MEDC for improvements made to the 23,000-square-foot City Forestry building at 1872 N. Commerce St. along the Milwaukee River on the north edge of downtown Milwaukee.
Lakefront Brewery produces approximately 3,000 barrels of beer annually. The facility improvements will help give the business more visibility with the public, enhance tours of the facility and add exposure to Lakefront Brewery products.
The company has six full-time employees and expects to add three more.
Park Bank participated in the $628,606 amendment of the project.
SBA loans
The following loans guarantees have been approved by the U.S. Small Business Administration for Wisconsin during November:
Amundson Insulation, 8667 N. 107th St., Milwaukee 53224, $98,000, Ozaukee Bank;
Animal Emergency Center, 7320 W. Florist Ave., Milwaukee 53218, $557,000, Wisconsin Business Development Finance Corp.;
Burger Boy, Highway 33, Port Washington 53074, $300,000, Firstar Bank;
Dave Heather Oshkosh, 425 Fond du Lac St., Waupun 53963, $740,000, State Bank of St. Cloud;
Five Star Fitness & Fun, 125 Pine St., Lake Mills 53551, $40,000, The Greenwoods State Bank;
Heus Manufacturing Co., W155 Kiel Rd., New Holstein 53061, $500,000, National Exchange Bank & Trust;
HIE Inc., 4230 W. Loomis Rd., Milwaukee 53221, $100,000, Bank One;
Himalaya Enterprises, Highways 31/50, Kenosha, $576,000, Racine County Business Development Corp.;
HT Enterprises, 139 E. Sheboygan St., Campbellsport 53010, $1 million, National Exchange Bank & Trust;
Lockhart Enterprises, N6424 Highway 12/67, Elkhorn 53121, $342,000, Firstar Bank;
Matco Tools, 7557 S. 68th St., Franklin 53132, $55,000, Associates Commercial Corp.;
MHZ USA, S83 W18346 Saturn Dr., Muskego 53180, $110,000, Citizens Bank of Mukwonago;
Midwest Medical Claims Service, 5225 N. Ironwood Rd., Glendale 53217, $20,000, Norwest Bank;
Racine Auto Body, 7300 Washington Ave., Mt. Pleasant 53406, $504,000, Racine County Business Development Corp.;
Riverwest Pottery Works, 6103 W. Mequon Rd., Thiensville 53092, $20,000, Bank One;
Sentra Protective Systems, 3055 N. Brookfield Rd., Brookfield 53045, $50,000, St. Francis Bank;
Therm Tech of Waukesha, 301 Travis Ln., Waukesha 53189, $150,000, Waukesha State Bank;
Traditions Coffee House, 141 Front St., Beaver Dam 53916, $12,000, M& Bank South Central;
Watertown Collision Center, 409 Clyman St., Watertown 53094, $163,000, First Bank of Oconomowoc;
West Bend Lakes Golf Club, 1241 Hwy. 33, West Bend 53095, $607,000, Wisconsin Business Development Finance Corp.;
Wisconsin Truck Equipment, W4484 Potter Rd., Elkhorn 53121, $82,000, Amcore Bank, Clinton;
Wisconsin Petroleum, 540 E. Burnett St., Beaver Dam 53916, $598,000, State Bank of St. Cloud;
Wise Photography, 788 Bragg St., Fond du Lac 54935, $127,500, Bank One;
Woodcraft, 1725 S. 108th St., West Allis 53214, $300,000, AT&T Small Business Lending Corp.;
Yelle, 115 Lincoln Ave., Sheboygan 53081, $70,400, Bank One.
Minority loan
Patterson Training and Consulting, Inc. (PTC), Milwaukee, has received an $83,000 loan from the state’s Minority Business Development Fund for an expansion project.
The project is expected to create 33 jobs over the next three years, and leverage $277,000 in additional investment.
PTC’s clients have indicated a need for information technology and technical skill development. The company will use the loan to help finance the necessary equipment to open and operate a New Horizons Learning Center franchise in Kenosha County or Racine County. New Horizons Worldwide, Inc., the franchiser, is the largest computer training company in the world.
Training grant
Walenta Grinding, Inc., of Brookfield has received an $18,272 Customized Labor Training grant from the state.
The company operates a high-quality grinding service for original equipment manufacturers and subcontractors which produce parts for OEMs.
Walenta Grinding has recently purchased CNC and centerless grinding equipment. The new equipment provides the company with an opportunity to win additional market share.
It will use its grant money to train 10 current and three new employees on the equipment.
The training project will leverage $18,272 in private funds.