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| St. Croix Stone |
| 504 Loan Casts Solid Growth for Stone Furnishings |
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Certified Development Company:
Minnesota Business Finance Corporation |
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Location:
North Branch, Minn. |
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Clients:
Christy and Rick Helps
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Case Study:
$840,000 SBA 504 loan on $2.4 million project |
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Third-Party Lenders:
The First National Bank of Hudson; North Branch, Minn.
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 St. Croix Stone manufactures lightweight, decorative, cast concrete products. Using natural minerals and aggregates, St. Croix’s durable and maintenance-free products include stone and brick fireplace fronts and accessories. With a total of 42 manufacturing, sales, administrative and shipping staff, the company has a seven-state-area dealer network, and its products are also sold to contractors.
The American remodeling boom has expanded beyond kitchens and bathrooms. Now, families seek to recreate natural environments
indoors, and stone products are becoming a favorite. Few companies in the country provide higher-quality products for cast stone furnishings and fixtures than St. Croix Stone. So much that St. Croix’s old, 12,000-square-foot facility could not keep up with growth and did not offer any room for expansion.
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The solution was simple. The Helps took out an $840,000 SBA 504 loan through Minnesota Business Finance Corporation for a $2.4 million project to develop a 30,000-square-foot facility. Featuring a 4,000-square-foot showroom, the new addition can easily handle increased manufacturing and shipping orders. The added space also allows St. Croix Stone to buy materials in bulk, save money and introduce new product lines.
“The SBA 504 loan went a long way,” said Christy Helps. “I would recommend any small-business owner who might be facing the same type of situation we did to look into an SBA loan.”
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