“We are new to owning a business, so purchasing our building was a daunting task. The team at WBD was there from the very beginning to the very end, walking us through the process every step of the way. They were always there to answer our questions and coordinate with the other organizations involved. Their support made it possible for us to buy our building–providing us with the stability we need to grow our business and serve our community.”
– Nicholas & Sara Poss, Owners
Established in 2010, the Eau Claire Music School provides a community-oriented music school that offers more than just music lessons. In 2015, Nicholas and Sara Poss purchased the Music School from the prior owner and expanded the programs available to include a youth chorus, ukulele ensemble, featured concerts, a guitar club, jazz jam sessions, summer camps, and a rock band program, all of which are available to students who range in age from preschool all the way through adulthood. Music lessons and workshops are available in an assortment of musical genres to students playing a variety of instruments, including piano, bass, drum and percussion, banjo, trumpet, trombone, saxophone, clarinet, guitar, and voice.
Owners Nicholas and Sara Poss, seeing an opportunity to purchase the building they had been leasing, utilized an SBA 504 loan provided by WBD and financing from Royal Credit Union to make it happen with a modest 10% equity contribution. The purchase saves the owners around $8,000 annually, allows them to better control their expenses, and provides them with a nice hedge against rising interest rates with the 504 debenture.
FUNDED: July 2018