Pittsboro roadhouse cash for growth

The Pittsboro Roadhouse & General Store Challenge:

In 2012 Greg Lewis, a foodservice veteran, sold his highly successful catering business (Catering by Design) and invested the proceeds to revive The Pittsboro Roadhouse & General Store in Pittsboro NC. Pittsboro is a fast-growing bedroom community with most residents working in Raleigh, Durham and other parts of the Triangle Metro Area.

Revenue at the restaurant has been growing at over 20% a year since Greg took over. In addition Greg knew there was a big opportunity to add a full service catering company to his operation. At the time, there were no full-service catering companies based in or near Pittsboro, and the population was expected to grow rapidly over the next several years.

Greg Lewis – Owner of Pittsboro Road House & Country Store

What MarketVigor did:

Greg worked with Joe Battle, who first did a loan readiness assessment and was able to identify the likely reasons Greg had been turned down in his previous loan applications. Joe then worked with Greg to prepare a new loan package that corrected the issues identified in the readiness assessment.

“After working with Joe, I realized my previous loan applications were rejected because I didn’t do a good job of showing lenders my projected cash flow. Joe provided the critical missing link of forecasting my cash flow based on past financial statements and the key assumptions that I provided.” Joe handled placing the loan with a lender he identified as being interested in the deal.

What Happened Next:

Greg was able to quickly complete the loan application because much of the required information was part of the readiness assessment. Loan application to loan closing took less than 3 weeks.

After receiving the loan proceeds, Greg was able to move forward with:
• Hiring additional staff
• Purchasing equipment & supplies
• Launching marketing programs

Being able to work with clients who are pursuing their dreams, and doing the right thing for their employees and community is what we like to do at MarketVigor.