SBIF Client Feature Story: Paket Corporation
Grantee Profile
Paket Corporation is contract manufacturer/packager that has been in the South Chicago neighborhood for 67 years. They offer full turnkey services, including new product design and development, compounding, filling, secondary packaging and shipping.
Packet was named to the ICIC 2021 Inner City 100 and previously included in the INC 5000 list of fastest growing private companies.
SBIF Grant Impact (South Chicago)
Paket President & CEO, Mark O’Malley, purchased the company in 1996 and committed to a re-investment philosophy to support growth and a customer service focus. This included expanding available products and R/D services to fully integrate the entire supply chain for online or e-commerce focused customers. Moving beyond Paket’s previous core competencies and expanding company offerings required building improvements, and the SBIF grant program was critical in covering these costs.
“Paket has been fortunate to take advantage of the SBIF program four times since first applying in 2013,” said O’Malley. “Funds have enabled Paket to significantly rehab our over 75 year old building including roof repair, energy efficient lighting and windows, and now a modernization of our R&D laboratory.”
Packet Corporation
Learn more about Paket Corp by visiting https://www.paketcorp.com/
Learn More About the Small Business Improvement Fund
Launched in 1999, Chicago’s Small Business Improvement Fund promotes economic development by providing reimbursable grants for permanent building improvement. Landlords, owner/operators, and tenants (with landlord approval) are eligible to apply. Residential projects are not eligible.
SomerCor is the program administrator contracted by the Chicago Department of Planning and Development. Learn more about the program and apply by visiting www.somercor.com/sbif.
