Pogo Play, an indoor family entertainment center featuring inflatables, a 4-story play structure, and activities to help children gain fine motor skills/creativity, is the realization of a dream for its owner, Susan Mattick. “HCDC really allowed for me to be able to make my dream come true. Without the SBA’s 504 Loan Program through HCDC, I wouldn’t have been able to get the financing I needed for the project,” she says.
Ms. Mattick wanted to start a business that was similar to an early childhood development center, but that took the concept one step further. “I wanted a space that would allow for a big enough area for birthday parties as well as the large play structure and inflatables. I also didn’t want parents to have to pay money to play games. I wanted a safe environment with comfortable seating for adults and a cafe with a healthy menu.”
She began researching in February 2013. By May of that year, she had settled on a business concept, had written her business plan, and started pitching the business to lenders. “We looked at real estate that summer, found the perfect building, then closed with the bank in January.” Pogo Play’s total project cost was $1,230,000, with $447,000 coming from the HCDC SBA 504 loan.
“Using an SBA 504 Loan through a Certified Development Company like HCDC has allowed me to use my capital to purchase a facility that I can have equity in, instead of spending money to invest in a landlord’s building,” she says.
Interested in the 504 Loan Program? Contact our lending team for more information at 513-631-8292 or at email@example.com.