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

 

Plasti-Coil

October 2015 | Lake Geneva, WI

 

Plasti-Coil has been a leading provider of injection molded plastic parts and component assemblies for over 30 years. In 2005, the company expanded into China to provide injection molded plastic parts to customers with overseas manufacturing plants. Bearing the UL Assurance Seal, Plasti-Coil can track each individual component they make back to its raw material to ensure the quality of the material at each step of the production process. Larry Austin has over 30 years of molding experience. He was a key leader of a successful management team with Miniature Precision Components prior to taking over Plasti-Coil. 

 

In May of 2015 Larry saw an opportunity to purchase the Plasti-Coil American location in Lake Geneva, WI. With the help of an SBA 504 loan provided by WBD and financed through BMO Harris Bank N.A. Larry was able to buy the American branch. Larry has plans to grow Plasti-Coil by diversifying their customer base and reducing operational overhead. Thanks to the acquisition, Larry was also able to add 10 new positions to the Lake Geneva area.

 

 

Funded

October 2015

 

Owner(s)

Larry Austin

 

Bank & Lender

BMO Harris Bank, N.A. - Mary Chandler

 

Financing

Purchase of real estate and improvements

 

Jobs Created & Retained

Created 10 jobs

 

Public Policy Goals/Local Development Goals

Aiding rural development (pop. of Lake Geneva is 7,710)

 

Project Amount

$1,980,000

 

WBD Contact

Steve Kohl

 

Steve's Personal Page

 

Email Steve

P: (262) 436-3012

Plasti-Coil has been a leading provider of injection molded plastic parts and component assemblies for over 30 years. In 2005, the company expanded into China to provide injection molded plastic parts to customers with overseas manufacturing plants. Bearing the UL Assurance Seal, Plasti-Coil can track each individual component they make back to its raw material to ensure the quality of the material at each step of the production process. Larry Austin has over 30 years of molding experience. He was a key leader of a successful management team with Miniature Precision Components prior to taking over Plasti-Coil. 

 

In May of 2015 Larry saw an opportunity to purchase the Plasti-Coil American location in Lake Geneva, WI. With the help of an SBA 504 loan provided by WBD and financed through BMO Harris Bank N.A. Larry was able to buy the American branch. Larry has plans to grow Plasti-Coil by diversifying their customer base and reducing operational overhead. Thanks to the acquisition, Larry was also able to add 10 new positions to the Lake Geneva area.