A small business loan has helped a Park Rapids carpenter purchase new tools and equipment so he can increase his capacity and grow his business.
Paul Wollschlager moved to the Park Rapids area with his family in 2024, after his wife Amanda completed advanced schooling and accepted a position as a Psychiatric Nurse Practitioner in town.
Paul, with 30 years of experience in home remodeling and carpentry, obtained his Residential Builders Contractor license and established his business, Lakeside Repair & Remodel.
Working with a consultant with the Northwest Small Business Development Center (SBDC), Paul was referred to the Northwest Minnesota Foundation (NMF) to explore financing options. NMF approved a Small Business Administration microloan, which helped him upgrade tools and equipment.
As Lakeside Repair & Remodeling grows in the Park Rapids area, Paul will help fill needed gaps in the community. As contractors are aging out of the business and stepping into retirement, local businesses like Lakeside are needed for remodeling and carpentry work.
“We’re here to help small businesses and entrepreneurs succeed,” said Sarah Linda, senior program manager for community revitalization at NMF. “Our SBA microloan program is accessible to entrepreneurs, start-ups, and small businesses looking to expand.”
Additionally, as the host of the SBDC, staff can help entrepreneurs and business owners access no-cost consulting to move their business ahead.
To learn more about the Northwest SBDC, visit www.nwsbdc.org
To learn more about NMF business lending, visit https://nwmf.org/business-support-loans/loans/
