“We were blindsided by many of the building requirements that cost more than expected in terms of professional fees, equipment and landscaping. Community Capital was able to get us the necessary funding in a timely manner so we could meet our November opening goal.”
EMILY CARVAJAL and ANDREAS NOWARA, CO-OWNERS
SUPPORT PROVIDED: $125,000 Small Business Loan
IMPACT: 50% Woman Owned business, 2 full time and 6 part time jobs created or retained
What happens when you’re able to self-fund the creation of your dream restaurant but then you hit a major unanticipated construction snafu? In the case of Jaeger Haus, three family members who also happen to be experienced chefs and restaurateurs had a vision for an authentic German restaurant in the heart of the Hudson Valley. They wrote a compelling business plan, purchased a former eatery and started renovations. However, deep into the project they discovered the building needed an entirely new septic system to accommodate the planned bathroom expansion. “We had exhausted our savings and needed a loan to get over the hump and open,” recalls co-owner Andreas Nowara.
HOW WE ARE HELPING
“This is a huge obstacle for many start-ups who simply lack enough operating history to qualify for a conventional bank loan” says Fernando Ahumada, Sr. VP of Lending at Community Capital. She adds “Community Capital saw opportunity and extended a $125,000 loan to fund the remaining start-up costs.” Jaeger Haus opened in November and continues to grow in popularity due to its top notch cuisine and the fact that the neighboring towns of Red Hook, Rhinebeck and Germantown each have roots in German-American culture. Furthermore, by using local meat suppliers, farm produce in season and Hudson Valley brewers to supplement traditional German selections, Jaeger Haus is earning the respect and loyalty of its community for helping to fuel other businesses in the area – a perfect recipe for success!
5084 NY Route 9G