NWBDC and NWRPC SBA Micro Loan Program awarded loan funding to IKS Industries, Inc. (IKS) to restructure existing debt to expand its cash capabilities to allow for increasing customer orders and growing industry demand.
Don Balczewski started IKS
(then called North Woods Milling Specialists) in 2005. A custom machine company that started like many others, a homestead located business, over the past 13 years has grown into a Park Falls based, locally owned, S-corporation that employs over 50 associates. Seeing a major increase in customer orders and industry demand, Balczewski strategically sought assistance in refinancing existing debt to improve cash flow, strengthen his locally owned business, and better service his clients.
This strategic financial alliance with the Community Financial Bank, NWBDC
, NWRPC, First National Bank of Park Falls and IKS
has proven successful, as IKS continues to carry a strong reputation in the industry. Balczewski has developed strong personal relationships with his client base and they all want to see Balczewski grow so they can send more work to IKS. IKS is a highly regarded vendor and Balczewski and his staff have received high and validated praises from to top customers, most of whom are also Wisconsin based. These praises led to referrals with other Wisconsin and regionally based manufacturers, and leaving all involved with a strong forecasted sales and earnings through 2019.
This success has been noticed even in the local area, as IKS was named Park Falls Area Community Development Corporation’s Business of the Year for 2017. Balczewski is dedicated to serving the community, region and state, starting with IKS’s financial strength, serving his employees, and creating a quality solution that assists his manufacturing partners. These partners develop products that we all use and enjoy on a daily basis, from energy, recreation, and healthcare devices. IKS follows up on its commitment by regularly giving back to the community and sponsoring various events. Balczewski also serves on technology and manufacturing boards for Northcentral Technical College and Wisconsin Indianhead Technical College, and is dedicated to many other community commitments.
IKS is leading the way with ensuring this success and the NWBDC and the NWRPC SBA revolving loan programs provided the needed leverage to continue the charge. This project is expected to retain jobs in Park Falls, Wisconsin. To see if your business would qualify for a startup, transition or expansion loan product at NWRPC, contact loan fund manager Ken Pearson
at (715) 635-2197.