Turned Away by its Lender, Metalformer Finds a New Funding Source

July 1, 2011

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.
There are no comments posted.

Related Content

Management

Frost Brown Todd Opens Houston Office


Wednesday, December 23, 2020
David Arndt Joins Harbour Results Management

David Arndt Joins Harbour Results


Thursday, November 19, 2020

Subscribe to the Newsletter

Start receiving newsletters.