SEED Makes Business Loan to KLS Taekwondo in Marshfield

In 2003, Kiho and Lora Seo started KLS Taekwondo, a Korean national martial arts studio located in Marshfield. They had outgrown their leased facility and needed to expand.

SEED made a $66,000 loan in conjunction with Rockland Trust to enable the husband and wife team to purchase a 2,526 square foot building in Marshfield. The expansion will allow the business to create two new jobs. The lending team for the project was Angela Laperriere from SEED and Eve Stoltz from Rockland Trust.

“Our experience working with Angela and SEED was fabulous,” stated Kiho Seo.  “They went above and beyond to make us feel comfortable and guide us throughout the loan process.  SEED made it possible for us to purchase our building. We truly appreciate all SEED did for us and how kind, considerate, informative and prompt they were throughout this process.”

KLS Taekwondo offers various Taekwondo classes designed to teach students of all ages how to defend themselves through flexibility, strength, and confidence. The studio emphasizes the importance of learning and practicing the Taekwondo tenets which include courtesy, integrity, self-control, perseverance, and indomitable spirit. In addition to helping students earn their black belts, KLS offers an internship program that allows a student from Young San University in South Korea to come to the US for a semester to work and train at KLS.

The studio holds classes Monday through Friday from 4:15 pm to 7:45 pm. Visit their website www.klstaekwondo.com to enroll or to learn more about martial arts training.

SEED Corporation is a non-profit economic development organization certified in 1982 by the U.S. Small Business Administration.  SEED is a Community Development Financial Institution (CDFI) under the U.S. Department of the Treasury and the SBA Micro Lender for the region. Under various programs, SEED makes loans from $1,000 up to $5.5 million to assist small businesses to grow and create jobs throughout the region.

Under the SBA 504 Program, SEED can provide up to 40 percent of the financing needed behind a bank for the purchase of buildings and equipment with a life of 10 years. SEED’s portion can range from $120,000 to $5 million for most small businesses, and $5.5 million for manufacturing businesses, at a fixed interest rate below market for 20 years, currently 5.33 percent.

For more information about SEED’s Small Loan Program and SBA 504 Program, please call 508-822-1020 or visit SEED at www.seedcorp.com.

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