Maxitech Inc.

The Opportunity

Rodrigo Chavez, owner of Maxitech, a successful manufacturer of industrial adhesives for 18 years, faced a critical decision. His lease was expiring, and his landlord planned a staggering 45% rent increase. This presented a challenge but also an opportunity. Instead of renewing the lease, Rodrigo saw this as a chance to own his space and revamp his production floor. For him it would be like “starting again, but this time with the things that work.”  

The Challenge

Securing financing for a new warehouse was not straightforward. Rodrigo’s local bank offered to fund 60% of the $1 million needed if he was willing to put 40% down. A down payment that big would’ve required him to drain personal funds and he said, “thank you, but no thank you” to his banker. He kept looking for a lender who understood his business, his vision, and the potential of owning his own space. 

Through a friend’s recommendation, Rodrigo connected with Celtic Bank. From the outset, he found Celtic Bank to be a supportive and collaborative partner. His loan officer, Brock Martin, understood his vision and guided him through the SBA loan process efficiently. Rodrigo was impressed by the transparency and clear communication throughout the process, noting that his Celtic Bank team took him “step by step, and [he] was next to them the whole time.”   

The Solution

Recognizing the value of Rodrigo’s established and stable business Celtic was able to extend a $1.1 million SBA 7(a) loan, allowing him to purchase a 10,000 square foot warehouse just a few miles from his previous location. 

With the security and flexibility of owning his own space, Rodrigo is optimistic about the future of Maxitech. He plans to introduce new products under a new label, expand his sales team, and achieve a 20-25% sales increase this year. He attributes his success to the partnership with Celtic Bank, highlighting their professionalism, transparency, and commitment to helping him achieve his goals.