catering-business-sba-loan

$1.25 Million Catering Business SBA financing

Posted on: January 3rd, 2016

Catering Company $1.250,000 million SBA 7(a) financing

Loan Scenario

  • A Californian couple owns and operates a gourmet lunch business for private parties for Hollywood celebrities and wanted to grow their concept to cater to more events and occasions.
  • As word spread of the quality of the company’s offering, demand for their services increased, requiring an injection of working capital to fulfill the new contracts.
  • Owners are currently looking in to acquiring new locations in Northern California San Jose area.

Our Solution

  • The LOCAL Real Estate Broker referred us the Business.
  • Careful analysis revealed experienced restauranteurs of proven success in the San Francisco, Sacramento and Los Angeles Area.
  • Chase Capital Funding provided a $1.5 million SBA 7(a) loan for additional working capital as well as to refinance high cost, short-term debt.

Positive Impact

  • The company, a woman-owned business, has been able to continue its growth of providing healthy meals to more healthy and organic conscious clients.
  • The business retained 87 jobs, 77 of which are held by minority workers. The business expects to create 30 positions with the new contracts.
  • All of these jobs are at a living wage and include health insurance.

 

Chase Capital Funding offers SBA 7(a) loans ranging from $50,000 – $4,000,000 for owner occupied real estate and leasehold improvements, business equipment, permanent working capital, and refinancing existing debt.