WINSTED, Minn.— Locals Tobias Flood and Mark Eiden recently opened a new metal fabrication business in Winsted called Metal Trade Solutions LLC (MTS). The duo received loan assistance from the Southwest Initiative Foundation (SWIF) through its Microenterprise Loan Program to finance startup costs for the business, which produces parts components and whole assemblies.
“We want to make a difference in the way young Americans view manufacturing. Modern manufacturing is clean and competitive, and our focus is showing American manufacturing can compete with foreign markets,” Flood said.
Located at 311 First Street in a portion of the former Dairy Concepts creamery, MTS began operations in March. Its primary markets include mid-Minnesota manufacturers who need welding, fabrication, CNC plasma cutting and machine tool services; and contracts for small and medium weldments and machined components for low part quantities.
Flood and Eiden also want to help people who work in their garages for themselves, those who don’t have the capacity, equipment or knowledge to complete their projects. Working with individuals will hopefully lead to developing new products or tools at MTS, the business owners said.
With help from friends, Flood is building an interactive website for the company at metaltradesolutions.com, where potential customers can see projects MTS has worked on and can initiate the quote process for parts and assemblies.
The young men trace their love for metal working back to high school: “We realized that with the right skills and equipment, we could fabricate anything,” said Eiden, a Holy Trinity High School grad. Flood graduated from Dassel-Cokato High School.
Both hold associate’s degrees in machine tool technology with an emphasis in mold making from St. Cloud Technical and Community College. They are currently splitting their time between MTS and additional jobs. Eiden works at 3D CNC in Hutchinson as a CNC operator. Flood is a CNC programmer at Aubright Inc. in St. Cloud.
SWIF loan funds covered a portion of legal costs and equipment needs for the startup.
“SWIF is happy to assist Tobias and Mark with this new manufacturing business, which will maximize their skills and creativity and provide high quality products,” said SWIF Program Officer, Jackie Turner.
Loan programs have been a key function of SWIF since its inception to support communities and businesses throughout southwest Minnesota. In 2001, microlending was added to existing programs as a tool to support small businesses and people looking for self-employment opportunities by providing market-rate loans.
Microloan clients receive free technical assistance from SWIF staff — who all have personal business experience — to improve their business management skills. Areas of support include business planning and reading financials, QuickBooks training, marketing assistance and other training opportunities for the life of the loan.
This microloan program receives funding assistance from the U.S. Small Business Administration and U.S. Department of Agriculture. For more information, contact SWIF at 800-594-9480, 320-587-4848 or [email protected].
The Southwest Initiative Foundation is a single connection offering unlimited possibilities to grow and promote kids, families, businesses, entrepreneurs and communities in rural southwest Minnesota. As a regional community foundation, SWIF has distributed more than $75 million in grants and loans. Through its business finance programs, SWIF has helped start or expand more than 700 businesses, which have created or retained more than 8,600 jobs. SWIF also established 25 community affiliates and more than 100 school, donor-advised and other funds. SWIF has also established 16 Early Childhood Initiative coalitions to support young children. SWIF has received 1,650 acres of farmland through our Keep It Growing℠ farmland giving program. The Southwest Initiative Foundation is an equal opportunity provider and employer. To learn more, visit www.swifoundation.org.
# # #
