Walnut Grove business benefits from Microenterprise Loan Program
Matthew Wahl, dba Wahl Spray Foam Insulation, recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program for the expansion of his spray-in insulation service business in Walnut Grove. Wahl started his business in 2009, offering spray foam insulation service to customers in a 120-mile radius.
Customers and contractors have been requesting the option of blow-in insulation as well. Wahl purchased additional equipment to meet this customer need. Free estimates for home, farm or business insulation needs are provided. Wahl can be reached at 507-828-7265.
“Matt is a good example of a young entrepreneur with determination, skills and a hard work ethic who strives to meet his customers’ demands,” said SWIF Program Officer Kurt Thompson. “SWIF is pleased to be able to assist Matt with expanding his business.”
Proceeds from the SWIF loan were used to purchase equipment for the expansion of the business. The State Bank of Lucan and the Walnut Grove EDA have also been involved in the financing package to help Wahl start and expand this business.
SWIF’s Microenterprise Loan Program offers loans of up to $35,000 for starting or expanding for-profit small businesses located within the 18 counties of southwest Minnesota that have a need for additional sources of funds. In addition, technical assistance is available from SWIF as needed for the length of the loan. The program receives funding assistance from the U.S. Small Business Administration, as well as from the U.S. Department of Agriculture.
Photo caption: Matthew Wahl, owner of Wahl Spray Foam Insulation, pictured with his family Stacey Engstom, Natasha and Natalie.
The Southwest Initiative Foundation is a regional community foundation dedicated to advancing southwest Minnesota through leadership, relationship building, program development and philanthropy. The Foundation has contributed more than $50 million through its grant and loan programs in southwest Minnesota. It has also helped more than 480 businesses start or expand through its business finance programs, which have created or retained more than 7,600 jobs. The Southwest Initiative Foundation is an equal opportunity provider. To learn more, visit www.swifoundation.org.
