504 Loan Success Feature: Eclectic Energy, LLC
Love a great gift shop? Say no more… Eclectic Energy is the place for you! Offering a variety of goods and gifts from more than 200+ designers, Eclectic Energy provides shoppers in South Kingstown and beyond with an “eclectic” shopping experience. In 1995, owner Pam Davis established Eclectic Energy in New York City after graduating college. However, after the unfortunate events that transpired on 9/11, Eclectic Energy closed its doors and Pam opted to pursue other career interests. After spending 31 years in the City, Pam decided to move back to her home state of Rhode Island and relaunched Eclectic Energy.
Pam’s vision for Eclectic’s relaunch required the perfect space to showcase her offerings. Through the use of SBA’s 504 loan program, Pam partnered with CIC’s Buck Harris and Shannon Melchione of Westerly Community Credit Union to acquire a 123 year-old property to serve as the business’s new home. The loan program provided financing for the acquisition and renovation of the property, as well furniture, fixtures, and equipment. Pam’s perfect space was made possible through a perfect loan program and CIC is delighted to have assisted Pam in the launch of this new chapter in Eclectic Energy’s story.