Southern Minnesota Initiative Foundation Provides Loan to Custom Building Components Inc.
Posted on 02/02/2015
MEDFORD - Southern Minnesota Initiative Foundation (SMIF) has recently approved funding from its Business Loan Fund to Custom Building Components (CBC) in Medford. Roundbank, Waseca is also partnering on this loan.
CBC specializes in manufacturing exterior and interior panelized wall panels for residential and commercial projects. With this loan from SMIF, CBC will be able to buy out their current contract for deed on their building.
When Fabricated Wood Products (FWP) in Medford shut down their wall panel plant in December 2008, a few employees of FWP chose to start up a similar business in a different location and name the business Custom Building Components, Inc. Currently, CBC is owned and operated by Ron Buehler, Pat Anderson, and William Nechanicky.
"We're pleased to help CBC grow this business through our gap funding program," notes Tim Penny, SMIF President/CEO. "Our Foundation remains committed to providing resources to grow local businesses."
SMIF provides a range of finance and management assistance services to start and grow businesses. To learn more, call Diane Lewis at 507-455-3215, or visit www.smifoundation.org. (SMIF is an equal opportunity lender.)