Downtown Tomahawk Business Receives WHEDA Guarantee

Downtown Tomahawk Business Receives WHEDA® Guarantee

Critter Center under new ownership; to expand to other pets

Madison - A downtown Tomahawk pet store is under new ownership and will soon expand, thanks to a Small Business Guarantee from the Wisconsin Housing and Economic Development Authority and a loan from River Valley State Bank in Merrill.

WHEDA Executive Director Antonio Riley will visit the Critter Center, 23 W. Wisconsin Avenue, Wednesday May 9th at 10 a.m.

"A city like Tomahawk has a need for strong businesses in its downtown area. The Critter Center helps to meet that need," said Riley. "We know that specialty pet stores like this one, in a city without other similar stores, do very well, particularly as people continue to spend more and more money on their pets."

Cheryl Ellis purchased the Critter Center with a loan from River Valley State Bank in Merrill. Her loan officer was Steve Ott, who recently worked with WHEDA on another Small Business Guarantee in Merrill. An SBG helps Wisconsin businesses by providing a guarantee on bank loans. Without the guarantee, banks might not be willing to make the loans on the same terms.

Under previous owners, the store primarily sold only small animals and supplies. Ellis plans on adding cats and dogs to her inventory as well as offering a grooming service and developing a website to purchase supplies.

"WHEDA financing helps small businesses start out, grow and remain competitive," Riley said. "These programs are important tools to grow Wisconsin's economy. At WHEDA we believe in turning peoples dreams into reality."

WHEDA is an independent state authority that works with lenders to provide low-cost financing for housing and small business development in Wisconsin. For more information on WHEDA's housing programs, call 1-800-334-6873 or browse this web site.