How We Helped One of Bozeman’s Favorite Restaurant Owners
Sometimes a business owner can be a total success and still not quite meet traditional lending requirements. Bozeman restaurant owner Serena Rundberg, who now has several award-winning establishments under her belt, is one such example. Serena’s lender recommended she reach out to us with her planned expansion of Feed Café in 2016, after her bank had tightened some of their policies around restaurant lending. Her aim was to expand the kitchen space and make more room for seating at Feed, where the line of customers waiting for fresh baked goods and handcrafted beverages often extends out the door.
The biggest hurdle she faced—as so many business owners do, when expanding—was a lack of collateral. MoFi recognized the depth of Serena’s industry experience, and was able to help her bridge the gap in financing to improve the space for Feed Café, purchase a retail brand space next to the café, and provide working capital during the expansion. Since the expansion, Feed Café and the adjacent retail space, Tart, continue to post strong sales and Serena refinanced with her bank after just 12 months. With Serena’s innovative vision, these businesses have cemented their places among Bozeman’s favorite dining and shopping establishments.
Products used: Small Business Lending