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Top Floor – Business Case Study

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It is a part of the National Exchange Bank & Trust culture to build long lasting relationships. In our business-to-business lending and banking operations, we do not focus on a one-time transaction, rather we seek to create a win-win partnership with our clients. You may wonder, what does this really mean? Learn how we have helped Top Floor Technologies grow and thrive in this case study. 

Top Floor is a digital marketing agency that specializes in marketing, website development and lead generation for manufacturers and other industrial B2B businesses. Additionally, they focus on education offering webinars and roundtable discussions. They also are the sponsor of the Wisconsin Manufacturing Report which surveys the state of manufacturing in Wisconsin.

Transferring Ownership with an SBA 7(A) Loan

Top Floor is going into its 26th year of business. When the founder of Top Floor considered his succession plan, he looked to two long-time employees, Justin Kerley and Chad Spaude. The plan included adding them to the management team prior to the ownership transition and allowing them to be involved with key decisions that would impact strategy, hiring and other initiatives that were larger than day-to-day project execution. 

In 2019, Justin and Chad became minor owners of the company. In 2021, when the company’s founder was ready to fully transition out of ownership, they came to National Exchange Bank & Trust with the goal of getting a loan to fully acquire Top Floor. Their lender, Dave Mohorich, laid out all of their options and a small business (SBA) loan was chosen as the best fit. Since the nature of their company as a digital marketing agency does not require them to carry much in the way of fixed assets, and they desired a longer amortization, the SBA 7(A) loan fit best! This loan structure looks the cash flow of a business to determine the appropriate loan amortization and allows for optimal flexibility.

Our Tailored Solution

As an approved SBA lender, NEBAT was able to provide a number of small business loan options while helping guide Justin and Chad through the process. When asked about the level of service and support received, Justin described it as a true partnership. He said, “At no point did I feel uncomfortable reaching out with a question. I would call the role between our lender and us a guide. He was answering a lot of questions for us, letting us know what we needed to fill out and provide, and was able to provide us with updates along the way.”

“I would recommend NEBAT to other businesses as it is a true partnership.

At no point did I feel uncomfortable reaching out with a question. I would call the role between our lender and us a guide. He was answering a lot of questions for us, letting us know what we needed to fill out and provide, and was able to provide us with updates along the way.”

Justin Kerley, Co-Owner

Justin Kerly Headshot

The Results

The transfer of ownership has allowed Justin and Chad to take Top Floor to the next level and continue to elevate the business. One way that they are doing this is by focusing on company culture. Like many digitally based companies have recently done, Top Floor went to a remote workplace environment for its employees and eliminated office space expense. They now make a concerted effort to get everyone together on a regular basis. This effort allows them to see their coworkers as teammates and creates a strong company culture. As their lender says, “Justin and Chad are approachable, insightful, and have built a great team that supports them. Their history of promoting from within has allowed their employees the opportunity to grow and get into the right positions to thrive. Anytime you can do this, it’s a recipe for success!”

In addition to company culture, Top Floor focuses on creating partnerships with their clients. Instead of focusing solely on revenue when looking at projects, they evaluate the type of project it is to determine if it aligns with culture and skill sets and has the potential to create a long-term collaboration.

Why NEBAT?

The partnership with Justin and Chad did not end when their loan closed. Their lender regularly meets with them to understand any changes in their business goals, performance and operations along with other opportunities for Top Floor. If there are connections their lender knows about that would be beneficial for Justin and Chad, he reaches out. When Top Floor is putting on events, Dave makes an effort to attend and be a part of their community. It’s not only about the loan made, but there is genuine interest in how NEBAT can help Top Floor grow moving forward.

How can we help take your business to the next level? Contact us today!

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“I would recommend NEBAT to other businesses for their communication and stability.

[Also,] the sense of community and actually working with people you know. I can walk into my branch and they actually know my name, they actually know me, and they know my children; it’s good to know the people that you work with for sure.”

Chad Spaude, Co-Owner

Chad Spaude Headshot

Meet the Lender

Dave Mohorich
Dave Mohorich
262-523-5732  | NMLS #: 1263637

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