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.
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.