Restaurant owner consolidates debt and completes critical repairs with funding through Lendio.
Reason for a loan
Industry
Location
Employees
1-50
Lisa Pajac was working as a civilian for the Navy, stationed in Italy managing a bowling complex. When the government shutdown limited the amount of hours she could work, she realized it was time for a change. Her father helped her find a restaurant for sale in Hayward, Wisconsin, and they both knew it was the one. Her and her husband, Rick, researched the area and developed a thorough business plan that they referred to many times during the start-up process. Using her retirement funds and a loan from the bank, she bought the business and started Italia.
One day, Lisa was looking for capital funding companies online and found Lendio. After signing up through Lendio’s easy online portal, she was matched with Jon Klevin, her loan specialist. “I loved Lendio, when I had to submit documents, it was frustrating, but they walked me through the whole thing. Jon Klevin was fantastic, he was helpful through the whole process, and very encouraging. I would absolutely recommend Lendio to a friend” Lendio was able to get her a loan to cover the cost of the repair and consolidate her loans.
Now, Lisa’s restaurant continues to flourish. “We’ve made such a difference here in Hayward, there is no Italian restaurant in a 100 mile radius. People come from Chicago, Milwaukee, all around. They’ve been waiting for something like this, and that’s what keeps us going: making these people happy, every single day.”
You can find Lisa’s restaurant at italiahayward.com. To get started with Lendio, click here to see all of your small business loan options.
About the author
Loan Calculator
*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.
More Customer Stories
K9 Lifeline
Meet Heather Beck, Owner and Founder of K9 Lifeline and Heather's Heroes. Like many small business owners, the businesses had to shut down when the global pandemic hit, but Heather knew her community needed her. Watch Heather's story and find out how Lendio helped her small business.
"Having funds from Lendio really helped us be able to push out our dog product line."
K9 Lifeline's Story
Heather Beck first started K9 Lifeline to provide a safe place for dogs to socialize and to help their owners create better relationships with their dogs so fewer dogs end up in shelters.
She came to Lendio looking for funds during the pandemic. Business had slowed dramatically, but she knew her community needed the services she offered.
Heather said the process of getting funding through Lendio was really easy with clear communication every step of the process.
"If I could describe Lendio with one word, it would be supportive.... Having those funds available really impacted how big that company is now," said Heather.
Porters Bar & Grill
Porters Bar & Grill used a loan found through Lendio to solve his business’s cash flow woes and help turn things around.
"I was so happy to be able to do this deal with Lendio; it totally saved my business."
Porters' Story
Located near Boston’s TD Garden, home of the Celtics and Bruins, the 85-seat Porters Bar & Grill fell on hard times in 2017 during the summertime off season.
Scott Nogueira, who opened the pub in 1999 with two business partners, scrambled to come up with the cash to survive, but the business’s debt “hole” continued to grow.
“We’d end up going into debt, and paying it back would take all season, so we couldn’t build up a pile” of savings, Scott says.
Spurned by traditional lenders, including his bank of 17 years, Scott turned to Lendio to solve his cash flow woes and help save his business. After securing financing through Lendio, Porters became positioned to earn over $1 million in annual revenue.
“I was so happy to be able to do this deal with Lendio,” Scott says. “It totally saved my business,”
{{block="/blocks/calculator"}}
Urban Patchwork
Urban Patchwork, which helps schools create spaces that connect kids to nature, faced issues with a different type of green. So its owner sought financing through Lendio.
“Lendio worked with me quickly and allowed us to get funds … and just gave us a buffer through the summer.”
Urban Patchwork's Story
Paige Oliverio started the nonprofit Urban Patchwork in 2009 with the goal of designing and building spaces that incorporate nature. But just like any other business, Paige found she had issues with a different type of green.
“People assume there is a surplus of grant cash just out there waiting to be claimed by nonprofits, but it’s not true,” she says. “It has to be run like a business. And like any business, keeping skilled staff, and the cash on hand to pay them, is hard.”
Paige persisted, eventually starting a for-profit spinoff of Urban Patchwork, working with a number of Austin-area schools to revitalize their campuses. After facing a shortage of working capital, Paige turned to Lendio for financing.
“Lendio worked with me quickly and allowed us to get funds for everything from paying off high-interest debt to hiring a new assistant,” she says, “and just gave us a buffer through the summer.”
{{block="/blocks/calculator"}}
Autism House
Autism House in Texas outgrew its original location, so its owner turned to Lendio’s marketplace for the funds it needed to purchase a larger place to call home.
"[Lendio] kept me in the loop on each step of the process, which is always appreciated!”
Autism House's Story
Jessica Cordova started Autism House in 2011 with a $10,000 loan and a desire to help children with autism and other disabilities.
“When we first began, I borrowed $10,000 from Allegiance Bank and asked friends and family to donate toys and books,” she says. “I shopped garage sales and second-hand stores to stretch our budget. I was able to pay off the loan within the first year.”
Just four years after opening its doors, Cordova found that Autism House’s first location could no longer accommodate its growing community. So she turned to Lendio for a loan that she used to purchase a house on 3.5 acres, where it remains today.
“My passion is really seeing a difference in the children we work with,” Cordova says. “Seeing the progress we can make with them, sometimes in just a few short months, is very rewarding.”
{{block="/blocks/calculator"}}
