LOAN OVERVIEW

Borrower: El Conuco Caribeno Restaurant
Loan Amount: $99,000
Location: Fountain Inn, SC
Project Type: Community Business

SITUATION

Joanna Salom dreamed of owning her own restaurant in Fountain Inn, located in Greenville County. She and her family invested heavily in the project, but were falling short of the capital they needed to open. Joanna risked losing everything if she wasn’t able to open her restaurant.

SOLUTION

SCCLF worked with Joanna for a year to help her secure the funding she needed to open her restaurant. SCCLF connected Joanna with the Small Business Development Center, who helped her solidify her business plan and prepare the necessary documents to complete the loan application process. Joanna’s work with the SBDC prepared her to secure funding from SCCLF for the final upgrades her property needed, as well as working capital for her first year in business.

IMPACT

El Conuco will create eight jobs initially, and plans to create more job opportunities in the future. They will serve authentic Caribbean cuisine to a moderate income community in Greenville County, and a female entrepreneur will be able to realize her dream of owning and operating her own business.