Ice Castle Arena
It was seamless, for the most part. The Progress Fund has been a supporter since day one. They’ve been superstars for us…They really understand it. They know it’s a good business.
Through a lengthy entrepreneurial career, business developer Ralph Murovich had rarely seen anything like the sales surge his son engineered. In two years running the Pro Shop within the 15-year-old Ice Castle Arena, young Mason more than doubled the revenue. It was hard to restock the hockey equipment quickly enough. “He said, ‘Dad, if you give me more space, I can do more things and get more product in here,’” recounts Ralph. The arena needed office space and mechanical upgrades, so Ralph decided to do it all at once.
The Progress Fund and Enterprise Bank crafted a $3.95 million package to refinance debt, cover the arena expansion and even buy new rental skates. The Progress Fund loaned $850,000 of the total.
A site of frequent tournaments, Ice Castle Arena draws teams from as far as Quebec and Seattle, filling hotels and restaurants for miles around. Mason and his sister Paula work at the arena, while their brother Tyler, a professional hockey player, teaches the intensive summer camp for local athletes. Ralph’s wife, Darlene, manages the day-to-day operations and employee scheduling. “When I first opened the rink, it was just another development to me,” says Ralph. “But this one turned out to be a family business.”
This project was financed in part using Pennsylvania Small Business Credit Initiative (PSBCI) funds from the Commonwealth of Pennsylvania, Department of Community and Economic Development.
The Progress Fund is an equal opportunity provider and employer.
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