BROOKFIELD, Wis. (July 21, 2015)---Through an SBA 7(a) loan and line of credit, Ridgestone Bank was able to help a landscape company expand its business through new product lines and a longer working season by financing a business acquisition from retiring owners. Ridgestone Bank provided the buyer with a $950,000 SBA 7(a) loan to purchase the business as well as a $100,000 CAPLine to help expand and improve the current business as well as support future growth.
After years of operating a successful landscape business, current owners were ready to sell and retire. While the new buyer did not have direct industry experience, he possessed business knowledge and had a solid plan to grow the operation. The company will utilize the funds to enable offering many additional products and services during the first two years which will result in a dramatic increase in revenue. The business also plans to extend its working season from nine months to year-round, also through offering additional products and services. The business expansion will allow the company to employ more people year-round.
Ridgestone Bank specializes in helping businesses throughout the country with financing through SBA and USDA loan options. Ridgestone’s approach to banking is to focus on creative answers to the financial needs of our customers by structuring loans most beneficial to small businesses.
Ridgestone Bank is a privately-held bank with full-service branch locations in Brookfield, Wis. and Schaumburg, Ill., as well as lenders in Indianapolis, Northeast Wisconsin, Northcentral Wisconsin, Tennessee, Southern California, Ohio and Madison, Wis. Founded in 1995, the bank is a leader in small business and government guaranteed lending nationwide. Distinguished by the SBA as an “SBA Preferred Lender,” Ridgestone Bank is a top 10 SBA lender in the nation is the number one SBA lender in Illinois and is the number one SBA lender in its asset size in Wisconsin. Ridgestone Bank is a leader in USDA lending in the United States and has been recognized as a valued partner by the USDA for its commitment to small businesses. Ridgestone Financial Services trades its common stock on the OTC Market exchange under the ticker symbol “RGST.” For more information on Ridgestone Bank, visit www.ridgestone.com.