Travis Pioske spent the first twenty years of his career managing high volume restaurants. But when a friend introduced him to the health and wellness industry – Travis was hooked.
He pivoted careers, took a significant salary cut, and began working for his friend at his physical recovery and rehabilitation business.
The more experience he gained, the stronger his passion for health and wellness grew. When the opportunity presented itself, Travis bought the business from his friend and rebranded it into Body Techs Rx Wellness and Rehab Center.
Working capital for small business expansion
Located in Richfield, MN, Body Techs is a wellness center that specializes in holistic healing, proactive and recovery care. They offer a range of services including cryotherapy, red light therapy, body sculpting, massage therapy, chiropractic work, and more.
“Most people come to us because they’re in pain” Travis said.
“Once they start getting in our membership, they start feeling good about themselves and they start getting their energy back. We always tell people that investing in us is like them investing in themselves and investing in their own health.”
Travis launched his business in May of 2022 and hit the ground running. After only one year of operation, he was ready to grow. But he had put all of his profits and personal finances back into the business already and needed working capital to get to the next level.
Affordable financing through the Minnesota Inclusive Growth Fund
In his search for financing, Travis found the Minnesota Inclusive Growth Fund (MIGF).
MIGF was created by a group of Minnesota-based nonprofit community lenders, including CRF. The program offers flexible, below-market, fixed-rate financing to help Minnesota small business owners recover from the challenges of the pandemic and civil unrest in 2020.
Through MIGF, Travis was matched with CRF to help meet his financing needs.
“I was fortunate to find CRF with the five-year, five percent interest rate through the Minnesota Inclusive Growth Fund, which was a great opportunity,” Travis said.
In working with CRF, Travis secured a working capital loan through the MIGF program for new equipment, inventory, staffing, and payroll.
“CRF was amazing to work with,” Travis said. “Everybody was super responsive and super helpful. And everybody taking the time to come out and actually see the business – it shows that CRF actually cares.”
As he reflected on the loan process and what this capital means for the future of his business, Travis felt the same relief he aims to provide to his own customers.
“Just like when I have my clients come in and they’re in pain and they go in the cryotank and I can see the relief on their face – that was the same when I got funded,” Travis explained. “I was like, ‘ok, now I can breathe, now I have time; I can expand.”
Travis is confident this capital will help him grow and expand services at his current location, and he hopes to open a second location in the future. He also plans to continue making a positive impact in his community.
Body Techs focuses on hiring locally and Travis also designs Body Techs apparel that can be purchased at his business. One hundred percent of the profits made from selling this apparel are donated to Minnesota youth nonprofit organizations.