NMDC Assists Caribou Woman in Business Venture Close to Her Heart

After one successful business venture, Lauren Allen approached business advisor Josh Nadeau of Northern Maine Development Commission for a second time with a larger business idea that was close to her heart. Allen had always dreamed of owning her own horse stable. She had found an existing stable that was not being utilized to its potential and she wanted to buy it. She turned to the Maine Small Business Development Center to walk her through the process.

With determination and passion for the potential business, Allen approached the owners and convinced them to consider selling to her. Her next challenge was to figure out if this business venture had enough demand and could be profitable. She worked with Nadeau over several weeks on financial projections. They analyzed the costs to determine the feasibility of the project.

Once they determined that the business could work, they worked on her loan package and her business plan. Allen approached the Caribou Economic Growth Council and was successful in securing financing to purchase the business.

In October 2018, Allen’s dream came true as she opened Allen Family Stables. Allen Family Stables is located at 347 W. Presque Isle Road in Caribou, Maine. They offer boarding services, training, educational classes, and birthday parties. They also have a program where she tames wild mustangs for the owners.

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