Business Spotlight — Tim and Karen Coil
St. Cloud Financial Credit Union is proud to continue to serve our members and communities in all aspects of their financial journey. That includes the business community and those who are either looking to start a business, expand upon their existing business, and more.
In our Business Spotlight Series, we will highlight various businesses within our community who we have had a pleasure of working with as we assist in helping bring their business dreams to life.
In this edition, we highlight Tim and Karen Coil, owner-operators of Coil’s Flags and Flagpoles, and how SCFCU worked with them to build onto their business ownership.
Background
In 2010, Tim and Karen Coil became the official owner-operators of Coil’s Flags and Flagpoles, a business that has been part of the greater St. Cloud community for more than 45 years.
The Coils had the vision of maintaining the reputation their company has established within Central Minnesota while continuing to focus on providing services to the surrounding communities, including our service men and women who have either previously served or still serve our country.
Coil’s Flags and Flagpoles — a sales, installation, service and repair business that offers the sale of residential and commercial flagpoles, pole solar lights, an array of stock or custom flags, as well as desk, stick, casket, auto, and motorcycle flags — was just the start for the Coils.
As the Coils continued their journey as owner-operators of the company, that grew into an opportunity to expand their business ownership in 2023. That is when they purchased MN Tarp & Liner, a company intended for and now run by the Coils’ sons Adam and Nate.
Relationship With SCFCU
In the process of purchasing MN Tarp & Liner, he Coils were looking for a local, trusted financial partner they could rely on the same way the community relies on them.
That led to a relationship with St. Cloud Financial Credit Union in 2023, and notably with Vice President of Business & Investment Services Abby Legatt, Director of Business Administration Amy Macho and the SCFCU Business Services team.
The Coils worked with the Business Services team on an SBA loan to buy the new business, getting guidance throughout the process and getting the reassurance that SCFCU is and will remain in their corner whenever needed.
What They’re Saying
“I did an SBA loan to buy a new business, and Abby and Amy were very awesome to get through the process. They had to get things lined up that they needed in order to be able to fill out the paperwork to give out an SBA loan. That’s where I thought they did an exceptional job. I can’t say enough good things about Abby and Amy. They’re an awesome team, they are very professional in what they do, and they’re going to get the job done for you. I would highly recommend working with Abby, Amy and the team at SCFCU to anyone looking for a business loan.”
“I think everybody has been awesome to work with. They are very professional, knowledgeable, and I was just very happy I was able to connect with the credit union to make this happen for us. To have the support of SCFCU certainly means a lot because I know they are there when I need them.”
— Tim Coil
We Are Here For You!
Looking to start a business or expand your current business? SCFCU is your local, trusted financial partner that is here for you every step of the way and our Business Services team is dedicated to offering you personalized support, industry insights and financial guidance tailored to your business’s needs.
Get started today by visiting scfcu.org/business, emailing businessservices@scfcu.org, calling 320-258-2196 or by visiting one of our branch locations.