In a downtown storefront in picturesque Two Harbors, several blocks from the steady tourism traffic of Highway 61, is a small business making big inroads. PureDriven is not only increasing revenues at an impressive pace but is also changing perceptions of high-tech business in rural Minnesota.
The three-year old web marketing company plies its online and e-commerce services far beyond its North Shore headquarters.
PureDriven’s burgeoning client base includes Duluth and the Twin Cities, as well as out-of-state contracts – proving that a small-town location is no barrier.
Critical to their progress, say partners Chris Swanson, CEO, and Sheila Leppala, COO, has been ready access to capital to manage receivables and add staff as growth demands. A line of credit through the Northland Foundation’s Business Finance Program was a key.
A young technology company usually lacks physical assets to serve as collateral, which limits their ability to secure a typical commercial loan. As a Community Development Financial Institution, the Northland Foundation had the flexibility, the right financing tool, and the belief in PureDriven’s potential to help make it happen.
Swanson says PureDriven is on pace for profitability next year. Success is even sweeter with Lake Superior just outside your door.