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SBA 504 Loan: Closets by Design Builds a Dream

Building a Dream in South Chicago:  Closets by Design Grows from 5 Employees to 65

 

Creating Opportunity: A Family Business

Paul and Donna Ridsdale launched their Closets by Design franchise in Chicago’s southwest suburbs in 2015, not just to pursue a business opportunity, but to fulfill a lifelong dream. Ten years later, an SBA 504 loan through Growth Corp helped them buy a building of their own.  After spending decades building successful careers in the corporate, banking, and financial sectors, the couple decided it was time to create something of their own. Their vision was simple yet powerful: building a business from the ground up that positively impacts the lives of their employees, customers, and the community.

Growing from just five employees into a thriving operation with 65 team members, Chicagoland Closets, LLC provides custom storage solutions for homeowners throughout the region. The company designs, manufactures, and installs custom closets and organization systems, helping families transform their living spaces while creating meaningful local employment opportunities.

 

The Road to Stability: Overcoming Relocation Challenges with SBA 504 Financing

As the business expanded, so did its need for space. Over the years, rapid growth forced multiple relocations as the company outgrew rental facilities. Finding suitable rental properties became increasingly challenging, prompting Paul and Donna to consider a long-term solution: purchasing their own building.

That’s when an SBA 504 loan helped turn their next chapter into a reality. The financing enabled the purchase of a new facility, giving the company a permanent home and the capacity to continue growing. Before securing the 504 loan, their bank provided a construction loan to complete property improvements, and once approved for the SBA financing, the owners were grateful for 504’s locked, stable interest rate and monthly payment, which gave them greater confidence in budgeting and long-term planning. “The process was very smooth,” the owners shared, noting that the fixed-rate financing simplified forecasting and positioned the company for continued success.

Today, that investment’s impact extends far beyond the walls of the new building. In addition to creating jobs for 65 employees, the company actively supports the local community through sponsorships of events such as a local 5K race and community theater programs. The business has also reached several significant milestones. In 2025, the company celebrated 10 years in business, a decade marked by steady growth, perseverance, and a commitment to excellence. At the end of 2026, they will celebrate one year in their new facility, a testament to how far the business has come since opening its doors.

 

The True Measure of Success Is Watching Others Succeed

For Paul and Donna, their most rewarding moments come from seeing the lives of their employees improve. “Watching an employee buy a new car or purchase their first home” stands out as their most satisfying achievement, reflecting the people-first culture they have built along the way.

 

“Success Is a Shared Journey, Not a Solo Climb”

When asked what advice they would share with aspiring entrepreneurs, their answer reflects the collaborative mindset that has guided their journey from day one: “Build a diverse personal board of advisors and then listen to their hard-earned wisdom. Let their collective experience guide your steps. Success is a shared journey, not a solo climb.”

From this small startup to a thriving, seasoned organization serving homeowners across the Southwest Chicago suburbs, Chicagoland Closets, LLC demonstrates what can happen when vision, determination, and the right financing come together. With a new facility, a growing team, and deep roots in the community, Paul and Donna Ridsdale’s story is one of entrepreneurial success, job creation, and lasting impact.

 

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Posted on

November 10, 2026