Flower shop transitions to new owners in Mountain Lake
Local entrepreneurs benefit from Southwest Initiative Foundation loan program
MOUNTAIN LAKE, Minn. – After four decades in the floral business, Nene Smestad is passing the bouquet. She’s sold her shop to Mountain Lake native Jessica (Herrig) Thompson and her husband, Kris, to continue the legacy of personal service and beautiful flowers at Mountain Lake Floral & Design. Thompsons purchased their business with help from Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program.
“As someone who raised our children in the store, it brings such joy knowing they will carry on this local, family-owned business into the next generation,” said Smesta, who will work alongside the businesses new owners through the upcoming year, assisting with holidays, funerals and weddings.
Jessica is originally from Mountain Lake Lake and worked for the original Mountain Lake Floral during her high school years. She and Kris made their home in the Twin Cities but have relocated back to the small town with their six children to run the flower shop. Kris kept his job at North Memorial Hospital, working 24-hour shifts with days off in between when helps at the store. The couple also own and operate Westwood Design Co., creating custom tumblers, shirts, hats, vinyl decals and wooden signs. They’ll offer these personalized gifts and unique products alongside the floral arrangements.
Since taking over in January, business has been going well for the Thompsons.
“Thanks to all of our awesome customers, it’s been amazing. We can’t thank the community enough for its support,” Jessica said. “I love being able to deliver joy, visit with familiar faces and meet new people. We are excited to be part of everyone’s holidays and special occasions for years to come.”
Loan proceeds from SWIF helped Thompsons purchase machinery and equipment and inventory, in partnership with Triumph Bank and the Mountain Lake Economic Development Authority.
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.
Microloan clients also receive free technical assistance from SWIF staff to improve their business management skills. Areas of support include business planning and financials analysis, QuickBooks training, marketing assistance and other training opportunities for the life of the loan.
“Business succession is a key part of keeping our small towns vibrant, and we’re happy to help Kris and Jessica take ownership of this long-time local flower shop,” said Jackie Turner, SWIF Economic Development Officer.
This microloan program receives funding assistance from the U.S. Small Business Administration and U.S. Department of Agriculture. For more information, contact SWIF by calling (800) 594-9480, (320) 587-4848 or email SWIF.
About Southwest Initiative Foundation
Southwest Initiative Foundation (SWIF) is a nonprofit community foundation connecting people, investing in ideas and building communities to create a southwest Minnesota where all people thrive. Since its founding in 1986, SWIF has distributed more than $115 million through its grantmaking and business finance programs.