4.926% 504 20 year term, December 2018
4.990% 504 25 year term, December 2018

 

Con-Tek Machine

April 2016 | St. Paul, MN

 

Con-Tek Machine was founded in 1983 to provide polyurethane foam fixtures to the food equipment manufacturers industry. Over the years, Con-Tek has grown to become a leader in the urethane market. Making products that include everything from steering wheels, instrument panels, snowmobile hoods and mountain bike handlebars, Con-Tek is also able to make foam ISO shipping containers and trailer foaming fixtures, a service which has distinguished them from their competition, both nationally and internationally. Since new uses for polyurethane foam are continually being developed, new products and services area always being added to Con-Tek to serve those emerging markets.

 

In October Scott Anderst, saw an opportunity to purchase Con-Tek Machine from its former owners. With the help of an SBA 504 loan provided by WBD and financed through Hiawatha National Bank, Scott was able to acquire the business. Thanks to the purchase Con-Tek Machine will be able to add 31 new jobs to the St. Paul community. 

 

 

Funded

April 2016

 

Owner(s)

Scott Anderst

 

Bank & Lender

Hiawatha National Bank, Jeremy Price

 

Financing

Purchase of real estate and improvements

 

Jobs Created & Retained

Created 31 jobs

 

Public Policy Goals/Local Development Goals

Assisting a manufacturer

 

Project Amount

$1,740,000

 

WBD Contact

April Nelson

 

April's Personal Page

 

Email April

P: (715) 381-6719

Con-Tek Machine was founded in 1983 to provide polyurethane foam fixtures to the food equipment manufacturers industry. Over the years, Con-Tek has grown to become a leader in the urethane market. Making products that include everything from steering wheels, instrument panels, snowmobile hoods and mountain bike handlebars, Con-Tek is also able to make foam ISO shipping containers and trailer foaming fixtures, a service which has distinguished them from their competition, both nationally and internationally. Since new uses for polyurethane foam are continually being developed, new products and services area always being added to Con-Tek to serve those emerging markets.

 

In October Scott Anderst, saw an opportunity to purchase Con-Tek Machine from its former owners. With the help of an SBA 504 loan provided by WBD and financed through Hiawatha National Bank, Scott was able to acquire the business. Thanks to the purchase Con-Tek Machine will be able to add 31 new jobs to the St. Paul community.