The Byblos Cafe owners desired to purchase their building and to make further improvements, including the addition of a covered patio for the restaurant. SCORE's mentor helped them create an effective business plan. He then found a Community Development Corporation (CDC), a not-for-profit funded by the SBA, to cover 40% of the loan as an SBA 504. He then arranged for multiple banks to review the opportunity, leading to six banks wanting to make this loan SCORE evaluated their offers and then aided the clients in completing final negotiations of the almost $1.4M loan.
How SCORE helped.