Major Financing for a Major Move: Art in the Alley

Tami LaPole Edmunds, owner and CEO of Art in the Alley, sought financing to enable her to relocate her successful retail business from Superior, Wisconsin, to downtown Duluth – a more suitable and lucrative location. But when she applied for a loan from a conventional bank, the bank turned her down.

Denied financing by a conventional bank, how can an established business relocate, remodel and expand?

After a bigger-picture lending evaluation, the Entrepreneur Fund supplied the financing and structured strategic planning opportunity that enabled Edmunds to:

  • Relocate her business to a more economically viable location
  • Open two new retail spaces in downtown Duluth, Minnesota
  • Remodel an office building into a highly visible retail space, transforming a downtown corner

Edmunds also participated in a Women’s Business Strategy weekend – a professionally facilitated retreat offering breathing space and strategic guidance for formulating concrete growth goals and plans.

EFund Fact:
We see the bigger picture. That means we can offer loans up to $750k, with more flexible lending requirements and usage terms than those offered by a traditional bank.

Financing and Guidance for Growth

Twenty years ago, not many would have predicted that Minnesota’s Cuyuna Range would become competitive in the technology services industry. As significant investments were made to technology infrastructure in the region, Jim Mayne, President at Deerwood Technologies, recognized an opportunity to become the premier IT solutions provider in central Minnesota.