Small Business Lending for a new building
Renato Scottibelli moved to the United States from Naples, Italy, in 1972, and over the years he opened several successful restaurants in New York and Southern California. However, after a memorable vacation in western Montana, Renato decided to move to Big Sky Country, opening ScottiBelli’s Ristorante Italiano in downtown Kalispell in 2009. His appealing menu of authentic Italian food and wine made the restaurant a popular destination for residents and visitors alike.
“I fell in love with Montana, and I knew that the Flathead Valley was a place where I could retire and still cook the food I love,” Renato said. “I feel incredibly fortunate that the Kalispell community has embraced my traditional Italian cooking and appreciates the relaxed, family-friendly atmosphere that my staff and I have worked so hard to create.”
Working with the local lender
After leasing his location for eight years, Renato recently had the opportunity to purchase a new space just two blocks south on Main Street. Although he had excellent credit history and steady sales, he wasn’t able to obtain full financing from a bank. His banker, Justin Fries with Whitefish Credit Union, reached out to MoFi to see if we could help. We partnered with Whitefish Credit Union on a loan to help Renato purchase the new building. The new restaurant is expected to open in early 2018.
“Purchasing a permanent restaurant space shows that Renato is committed to the downtown community,” said Whitefish Credit Union Commercial Lender Justin Fries. “This move represents an exciting development in the ongoing efforts to make Kalispell an attractive place for residents and visitors to stay and enjoy.”
“Renato is a smart businessman who’s had a number of successful restaurants over the years,” added Dave Glaser, President of MoFi. “ScottiBelli’s is a perfect example of how Main Street businesses can be pillars of a vibrant and diverse community.”
Products Used: Small Business Loan