Many small businesses are seeking loans to recover from financial hardships, but often they're rejected.
After 30 plus years in Grand Junction, Culinary Corner worried it would have to close up shop… but not anymore thanks to our local business incubator.
What most people don't realize is The Business Incubator isn't just for start ups.
Right now, it's working with nearly 500 local businesses, even some that have been around for years, like Culinary Corner.
It’s been months since Culinary Corner has been able to order new inventory. It just doesn't have the money.
Owner Beth Zanski even questioned if the store she's had for years would last any longer.
Zanski says, "I hate to admit that that did cross my mind, but it did. If you don't have inventory you cannot have the days you need to keep open.”
Culinary Corner needed a loan. When the banks said no, The Business Incubator said yes.
Jon Marachin, executive director at The Business Incubator, says "Most banks are very pragmatic. They look back on how you've done in the past. We look forward.”
Now all the paper work is complete and the loan is done.
"We were able to help them borrow the money to get the inventory they need to actually survive this season and grow as downtown grows," Marachin said.
So, what's the next step for culinary corner?... A shopping spree to restock the shelves at its downtown store.
“This week and next week we'll be unpacking. We’ll probably have the most merchandise we've had at any one time in a long time," Zanski said.