Restaurant Loan Case Study | SnapCap

Case Study Café Framboise

Florence Chantepie, the co-owner of French patisserie Café Framboise, needed capital to meet the expenses of her new café in Charleston, SC. The café has been open for two years and business continues to grow.

  • Loan Amount: $10K
  • Term: 6 Months
  • Use: Working Capital
  • Industry: Restaurant

The Challenge

For most small companies, challenges in the first year of business include juggling financial demands whilst still providing customers with the best service possible. Florence Chantepie, co-owner of French patisserie Café Framboise, needed consistent cash flow to meet the expenses of her café but, in the first year of business, sometimes found herself with cash flow pressures. On top of that, Café Framboise did not have the excellent credit history that’s essential for traditional bank loan approvals. Even if her business had been able to secure a bank loan, the average 100-day loan process was too slow to meet the immediate needs of the café. With years of experience in creating small businesses, Florence realized she needed to establish a new cash flow stream quickly.

We wanted to go with SnapCap because the processing was much faster than a regular bank.

The Solution

It was important to Florence to find a lender that would be able to give Café Framboise the time and attention it needed as a new business, so she began searching for alternative lending providers. Florence was put in contact with SnapCap’s co-founder, Hunter Stunzi, and was able to comfortably discuss her cash flow concerns. Immediately, preparations for applying for a SnapCap loan began. “We wanted to go with SnapCap because the processing was much faster than going to a regular bank,” said Florence.

Florence was very impressed by the quick turnaround on her SnapCap loan because it was a perfect fit for her business needs. From completing the online application – which Florence remarks took thirty minutes – to actually receiving the loan, the process took just a few days. “It went really smoothly. I talked to them Monday and by Friday we had the money.”

The café owner was happy with how quick and effortless the entire loan process through SnapCap was. “It’s easier for a small business like us to go through SnapCap – since we are less than a year old – than going through a bank and through all that hassle.”

It’s easier for a small business like us to go through SnapCap than going through a bank and through all that hassle.

The Result

Florence was able to secure a six-month loan from SnapCap to meet her immediate cash flow needs, and appreciates the ease of paying back the loan. “The repayment process is a daily withdrawal from our business account, a small amount, and it’s easy on your cash flow when it’s not a big withdrawal at the end of the month when you have your other bills. It’s great for small businesses.” Florence emphasized how efficient the application and underwriting process was, and how helpful SnapCap was at every step, saying she would definitely work with them again. “It was an easy process, it went smoothly, and we had the money right away. We were really pleased.”

It went really smoothly. I talked to them Monday and by Friday we had the money.

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