TRI-Construction
Founded in 2001 by tradesmen, TRI-Construction rapidly developed over the past seventeen years from a property maintenance company, to construction, and now operates as a commercial general contracting construction firm. It is one of the largest minority firms in Minnesota with extensive commercial experience to contribute to the construction industry.
Calvin Littlejohn and his co-founder, Lester Royal, purposely located TRI-Construction in North Minneapolis, and remain deeply rooted in and committed to North Minneapolis and the people who live and work there. TRI-Construction literally builds the community around it as well as brings the community well-paying jobs. Its ability to grow is hampered by its inability to obtain working capital from lending institutions.
Venn’s PRI will assist TRI-Construction in positioning itself for further growth and attracting conventional financing at reasonable rates.
Recipient Name: TRI-Construction
Corporate Form: Minnesota Business Corporation
Entrepreneurs: Calvin Littlejohn and Lester Royal
Investment Sought: $100,000-$250,000
Amount Raised to Date: $227,500
Overview of Investment Terms:
6-Year Unsecured Loan
Accrues Simple Interest at 3% Annually
Payment Terms
End of Year 1: Interest Only
End of Year 2: Interest plus 10% Principal
End of Year 3: Interest plus 15% Principal
End of Years 4-6: Interest plus 25% Principal
927 Project: TRI-Construction’s New Headquarters
Calvin Littlejohn, CEO
Lester Royal, COO