--(BUSINESS WIRE)--VEDC:
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What: |
VEDC’s Chicagoland Business Opportunity Fund (CBOF), a leading non-profit lender to small businesses, has funded a small business loan to Parts and Labor enabling the bar and grill to consolidate their debt and provide working capital. VEDC’s Vice President of Lending, Lynn Fernandez, will be on hand to welcome all and to take part in the celebration. |
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Russ Grant opened Parts and Labor on December 19th, 2014 with an investment partnership consisting of several local businessmen, friends and family. “I was very excited to bring the same simple, tasty burger concept to Logan Square that I grew up on in Mount Greenwood on Chicago's southwest side. My father, Bill Grant's great griddle hamburger is to be reborn in Logan Square! |
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“I approached CBOF for funding of growth capital to take the business to the next level. With the help of CBOF I was able to construct a garden patio in the rear and a front sidewalk cafe in the front of the business,” continued Grant. “With the funding we were also able to launch a full tap beer system with 15 tap beers and purchase a walk-in cooler for keg storage. CBOF gave us the capital that allowed us to look forward to the next level in the future of Parts and Labor. |
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“I am convinced our current sales growth of well over 35% from year one would not have been possible without CBOF funding. The Parts and Labor business partners and I are very appreciative of what CBOF made possible by having faith in our ideas and concepts. We are looking forward to a long, fun and profitable future in the Logan Square community.” |
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| CBOF is making available loans to businesses that do not qualify for traditional small business bank loans, which is aligned with VEDC’s mission to help create jobs and promote economic development, with an emphasis on women- and minority-owned businesses and businesses located in low- to moderate-income communities. | ||
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Why: |
Please join us for an Open House to celebrate the success and expansion of Parts and Labor. This is a free networking Open House event offering delicious food and beverages in a unique atmosphere. | |
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When: |
Wednesday, April 8, 2015 | |
| 6:00 p.m. to 8:00 p.m. | ||
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Where: |
Parts and Labor |
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| 2700 N. Milwaukee, | ||
| Chicago, IL 60647 | ||
