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$1,050,000 SBA Loan for Margaritas Restaurant Franchise

“We knew we had a great concept and a great location, but we couldn't get lenders to consider a start-up restaurant with a collateral shortfall. 44 Business Capital and Joe Dreyer looked beyond the scope of this project and saw our past success as a glimpse of our future. We would recommend 44 Business Capital to any small business struggling to get access to capital. In fact, we are in discussion with Joe and 44 for another location."

Craig Colby, CEO Margaritas

CHALLENGE

Craig Colby and Dan Christy are two successful entrepreneurs. Craig has been involved in franchise restaurant ownership for many years and Dan is a successful contractor specializing in medical office and hospitality construction. They saw the opportunity to open a Margaritas franchised location at the Lansdale exit of the Northeast Extension. The site chosen was a former Bones Grille which had recently closed. While the location was excellent and the demographics of the region seemed to support the project, no lender wished to help finance leasehold improvements to a start-up franchise restaurant. 44 Business Capital looked beyond the deal “on paper”, saw the extremely successful track record of the principals, researched the franchise concept and felt strong enough about the location to support the transaction. 44 Business Capital is proud to support this project which created over 50 new jobs in Montgomery County.