Turned Away by its Lender, Metalformer Finds a New Funding Source
July 1, 2011Comments
Thiel Tool & Engineering, a woman-owned metalforming company in St. Louis, MO, received $3.2 million in financing as part of the New Markets Tax Credit (NMTC) program. The federal program is designed to “spur new or increased investments into operating businesses and real-estate projects located in low-income communities.” Thiel received the financing from BizCapital, the business-lending division of Advantage Capital Partners, after having been turned away by its existing lender. The metalformer recently completed a 30,000-sq.-ft. addition to its 70,000-sq.-ft. plant. It employs 50 people, and serves the automotive, transportation and construction markets. The NMTC program is set to expire in 2011.
Technologies: Management
Comments
Must be logged in to post a comment. Sign in or Create an Account
There are no comments posted. Management
Wednesday, January 24, 2024 Podcast
Laurie Harbour, President, Harbour Results, Inc., E707
Wednesday, January 24, 2024 Podcast
Management
Monday, January 22, 2024 Webinar
MetalForming LIVE 2024: Recruit, Retain, Train
Monday, January 22, 2024 Webinar