OSU Federal MBL Helps Local Business ‘Shape Up’ Corvallis
November 20, 2012
November 20, 2012
Jason Wallis knows a lot about maintaining the health of his clients. But when it came to improving the health of his business this fitness expert turned to OSU Federal Credit Union for his training regimen.
“We wanted to expand our business and found a location that was just ideal but we needed a partner to make that a reality and OSU Federal helped make that happen,” said Wallis, owner of Fitness Over 50 Inc., an exercise training and wellness center for mature adults.
OSU Federal along with the Small Business Administration put together a financing package that allowed Wallis to purchase a one-and-a-half-acre property just south of Corvallis. He tore down one old building and began renovation of another.
“The building as finished is about 14,000 square feet,” said Wallis. We occupy about 10,000 square feet so we were looking to bring other tenants into the facility to complement what we do.”
The effort was highly successful with four other businesses now leasing space in the building. Among them are a chiropractic clinic and a massage therapy co-op.
Fitness Over 50 employs six people, with other subcontractors also benefitting from the growth of the business.
“Things have been going pretty well for us this year,” says Wallis. “We have had a good summer and fall, which is generally a slower time in the fitness business.”
Winter is expected to see a spike in new membership as people strive to perform on all those New Year’s resolutions.
“It has been great working with the credit union on this project. They really helped simplify the process and took a personal interest in making this happen,” Wallis said. “The lending opportunity made available to me by the OSU Federal Credit Union was vital to the development and future success of Fitness Over 50.”
Wallis is a strong supporter of allowing credit unions like OSU Federal raise the cap on Member Business Lending to help other small businesses grow and thrive. Finally, he noted the bill before Congress “will achieve that goal without any additional cost to Oregon taxpayers.” Let’s hope Congress is listening.
Questions or Concerns? Contact Matt Halvorson, Anthem Editor: email@example.com.