Serigraph Inc, a West Bend-based specialty printer, has secured more than $7 million from the U.S. Department of Agriculture's Business & Industry Loan Guarantee program to help finance an expansion.
The company said the USDA federal stimulus money will support its business growth strategy for 2010 and help minimize financial risk. As a result of the financing, the company was able to retain 462 employees and intends to hire up to 50 to accommodate new projects.
Ridgestone Bank assisted Serigraph in obtaining the financing. M&I Bank provided a revolving line of credit to Serigraph.
"We were pleased to be able to work with Serigraph to support their efforts to adjust to the current economic conditions and prepare to continue on the road to recovery," said Bruce Lammers, chief executive officer of Ridgestone Bank.
Federal stimulus funds help finance Serigraph’s expansion
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