Business Lending Partners has unveiled Atmosphere Collaborative Space, a multi-use office space owned by Jessica Omelian, to open in downtown Racine. Atmosphere will be located at 829 Wisconsin Ave.
Launch Box collaborative space closes this fall.
As the business landscape continues to change, demand for co-working spaces has increased.
With the closure of Gateway Technical College’s Launch Box this month, the need for local co-working space is anticipated to grow even further as those members seek a new workspace. Atmosphere will feature a large collaborative space along with three private conference rooms in order to accommodate a variety of needs.
The goal of this space is collaboration, says its founder, which will be partially accomplished through events at Atmosphere that highlight members’ skills and successes.
BLP partnered with Johnson Bank to assist with financing. Funds were made available through BLP from a City of Racine Loan Fund. The primary goal of this fund is to help businesses reduce their cash payment towards building and equipment purchases in order to reserve their own cash for continued growth.
Businesses qualify for this loan program by providing a benefit to the community, such as creating jobs, purchasing and occupying a vacant building or similar benefits.
Barry Fries, commercial relationship manager at Johnson Bank said: “Once again, working with BLP has allowed (the bank to) lend to a local business that it would have otherwise been unable to do conventionally. They are a great lending partner and offer a variety of financing options that allow our clients to reinvest their cash into growing their business.”
The facility will be managed by its owner. Omelian is a licensed as a real estate adviser for Shorewest Realtors, where she has worked since 2017.
Unlike many similar sites, Atmosphere will be available 24/around the clock, seven days a week for its members. It will provide equipment like printers and scanners and sponsor regular events and workshops.
Business Lending Partners is a U.S. Small Business Administration Certified Development Company specializing in processing and servicing SBA 504 loans throughout the State of Wisconsin. BLP is headquartered in Southeast Wisconsin and has been certified since 1985. It is a division of the Racine County Economic Development Corp. For more information on BLP and the financing programs offered, visit www.blp504.org or contact Carolyn Engel at 262-898-7420.
Editor’s note: This version of the story corrects the name of the company. Racine County Eye regrets the error.
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