Milwaukee, WI December 2016 – Northwest Side Community Development Corporation closed on a business expansion loan of up to $500,000 with Pack Logix, helping the 71 year old supplier of packaging solutions to relocate and expand at 2501 W Hampton Ave in the north area of Milwaukee’s 30th Street Industrial Corridor. The loan will be used for leasehold improvements, working capital and equipment purchases. Pack Logix expects to add up to 6 additional full-time jobs in coming years.
“This deal highlights a significant step for the NWSCDC Lending Fund,” said Edward Bryant, Director of Lending. “We used an investment of patient capital from Town Bank to make the funds available to Pack Logix. On top of that, we secured a WHEDA Transform Milwaukee loan guarantee, which gives us additional capability to make more funds available to growing businesses.”
“Our loan fund is growing, and the strategic partnerships with WHEDA and our banking partners help us make a larger impact in the North Corridor area,” said Howard Snyder, Executive Director. “As a Community Development Financial Institution, we make targeted deals focused on job creation.”
About Pack Logix: Pack Logix offers a full range of packaging solutions and service capabilities for virtually all market segments. Typically recognized as a premier contract packager of lubricants, greases, powders and specialty products, Pack Logix also offers a comprehensive range of additional products and services. From Fortune 500 customers to small regional industrial customers requiring 1,000 units, they all depend on Pack Logix to supply and source their packaging and products. The ability to execute innovative value added packaging solutions at exceptional pricing and short lead times makes Pack Logix not only a supplier, but a strategic partner in bringing products to market.