Foam Craft Packaging, Inc., Owatonna

Foam Craft Packaging, Inc. provides design and fabrication services for unique products in large and small quantities. In the beginning, their packaging products were just made of foam. Over the last few years, their customers liked their products and services so much, they asked Foam Craft to provide additional packaging services. Today, Foam Craft does specialty packaging and wood crating for national and international shipping needs.

Bob & Donna Ayers started the business in their basement in 1988. After out growing their basement, the business took over the garage and then was given the opportunity to lease space in the Owatonna Incubator. The Incubator's flexibility to lease additional space as needed allowed the company to continue to grow until they found additional space by constructing their own building.

After looking into a number of economic development financing options, Foam Craft started working with the City of Owatonna and the 504 Corporation to assist with the purchase of city owned land, agreement with JOBZ, and an SBA 504 loan. Using all three programs, Bob was able to move the business out of the Incubator and build a new 30,625 square foot building a few blocks away.

McGoon’s Taxi Co. Pub & Restaurant and Goonie’s Comedy Club, Rochester

Rochester's downtown is pretty quiet once the nine-to-five workers leave for home. Mark Klampe, a Rochester native, and his wife, Jasmine, realized that they needed "something to do" in Rochester.

For years, Mark and Jasmine had been talking about starting a restaurant and comedy club based loosely on Mark's great-grandparent's tales. With the help of an SBA 504 loan, the idea became a reality in the beginning 2006. McGoon's Taxi Co. Pub & Restaurant and Goonie's Comedy Club are located in downtown Rochester on the first and second floors of the historic Olmsted County Bank and Trust building. The names of the businesses are derived from Mark's great-grandparents, Howard and Marian "Goonie" McGoon. The couple owned a taxicab service in Rochester in the early 1920's to mid '50's.

McGoon's is set up as a 1920's style pub with a full menu and bar. Photos and memorabilia adorn the walls and plans are in the works to add more seating. Goonie's Comedy Club has received rave reviews from the community and has sold out every weekend. The club has nationally touring comedians perform every Friday and Saturday evenings at 7:30 PM and 10:00 PM.

In researching financing options for the club and restaurant, Mark and Jasmine knew they needed working capital. One of the benefits of the SBA 504 program is freeing up cash for working capital needs. With a low monthly payment, down payment, and 20-year fixed interest rate, Mark believed the 504 program best fit his business's needs.

McGoon's Taxi Co. Pub & Restaurant is open for lunch and dinner Monday thru Saturday. Take out orders for the restaurant or reservations for Goonies's Comedy Club can be made by calling (507) 288-8130.

Priestfield West Boarding and Training, Byron

Katie Minter-Dykhouse has spent the majority of her life around horses, working, training and riding in South Africa and England. Across the globe, Jennifer Hewitt also spent the greater part of her life with horses in Rochester, MN and Pennsylvania. Combining their talents, Katie and Jennifer saw the opportunity to develop Rochester's first specialist dressage and sports horse training facility.

With more than 92,000 horses and $1 billion in yearly revenues, Minnesota is one of the most horse populated states in the country. Although the Midwest is traditionally the domain of western riding and trail riders, it is estimated that 35% of Minnesota's horse owners are interested in learning more about dressage. Occasionally called "Horse Ballet", dressage is a growing discipline among horse riding. Despite the growth, there were no facilities within a 60 mile radius of Rochester.

Started in 2006, Priestfield West Boarding and Training is located eight miles southwest of Rochester in Byron, MN. It is the only facility to offer regulation sized indoor and outdoor arenas, heated facilities and high level dressage tuition. In addition, it is one of the few facilities in the state to have two professionally trained and qualified instructors. From day one, Priestfield West has been at capacity particularly due to Jennifer's business, JLH Dressage, integrating into Priestfield West. Currently, 32 horses are being boarded at the facility with clients as far away as Sioux Falls, SD. The local Pony Club uses the facility for meetings and educational events. Rochester Community and Technical College has also used the facility as a demo model for barn management lectures and facility design classes.

With the assistance of the SBA 504 program, their local bank, and personal resources, Priestfield West was able to construct a modern stable, arenas, and sufficient pastures for the horses. The facility is located on the owner's land adjacent to their residence. This location benefited the business and owners by utilizing the owner's existing property and creating a safe environment for the horses.