Rock Haven Climbing

August 2022

<p>Rock Haven Climbing</p>

Customer

Don’t confuse rock wall climbing with bouldering. As Rock Haven Climbing CEO William Righter puts it, there are no ropes or harnesses when bouldering, so climbers are able to navigate the course freely and “as adventurously as they like.” Rock Haven Climbing is one upward-looking venture itself, newly opening in August 2022. A personal dream of Righter, who has been a climbing enthusiast for 25 years, the membership-based business has been outfitted with a variety of bouldering gym challenges up to 17 feet high.

Challenge

Rock Haven Climbing needed to find an existing space with a tall enough ceiling, but more important was finding the right funding solution for their start-up business. “There are some big up-front capital expenditures when constructing a fitness center like this,” says Rock Haven CFO Jennifer Zelen. Having a deep background in corporate and small business finances, Zelen met with a half dozen banks and lending institutions. “Most didn’t seem to really listen to our story but were pretty ‘gung-ho’ about rushing into a deal … which actually kind of scared me,” she claims.

“I appreciate KeyBank’s level of professionalism, their honesty and the hard questions they asked because it helped all of us to work smarter.” – Jen Zelen, Owner, Rock Haven Climbing

 

Solution

Rock Haven chose KeyBank, not only for its deep expertise in SBA lending, but also for the personal connection they found. Zelen credits their KeyBank business banking relationship manager and KeyBank SBA specialist for listening and being honest at every step. Zelen appreciated the professionalism and questions that ultimately helped them to work smarter. Comments Zelen, “Our KeyBank team was with us all the way, guiding us on how to best keep the project moving forward.” KeyBank helped to facilitate an SBA-7A loan which allows for a lower down payment and interest-only payments through construction and a few months thereafter, giving the business time to ramp up its cash flow.

Results

The 18,000-square-foot Rock Haven Climbing facility celebrated a successful opening, complete with custom-built walls, 16-inch-thick safety padding, cardio machines and all the office necessities. Thanks to the longer amortization terms of the SBA-7A loan, Rock Haven’s monthly payments remain more manageable. “There’s been an incredible response thus far,” says Righter. “It just goes to show there’s a climber in everyone,” he adds. If climbing is about overcoming obstacles and rising above challenges, Righter and his Rock Haven team have certainly done that … with a little help from KeyBank’s above-and-beyond SBA lending expertise.

To learn more, contact a local KeyBank Relationship Manager or visit key.com/sbalocations.

To learn more about Rock Haven Climbing, visit rockhavenclimbing.com.

SBA loans subject to SBA eligibility. All credit products are subject to collateral and/or credit approval, terms, conditions, and availability and subject to change.

Key.com is a federally registered service mark of KeyCorp.

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Call Us

888-KEY4BIZ (539-4249)

Clients using a TDD/TTY device:
1-800-539-8336

Clients using a relay service:
1-866-821-9126

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Schedule an Appointment

Talk to a Branch Manager in your neighborhood.

Schedule an appointment now