Wednesday, February 21, 2018

Small Business Success Story - Deb's Hash and Mash

Each year the New York Small Business Development Center recognizes outstanding small businesses in a variety of ways.  This Success Story from the  Oswego Satelitte SBDC appears in our 2016 Annual Report

Debora Backus 
Deb's Hash and Mash
Oswego Satellite SBDC

Debora Backus had been looking at a closed diner for months and determined that the location was sufficient to warrant re-opening. She had business experience, but did not have any restaurant experience, so she hired an experienced chef who was interested in working with her to re-open the diner. Under Debora’s management and utilizing her marketing skills, she tied together the menu, décor, atmosphere, and logo to develop her brand. Debora was referred to SBDC Advisor John Halleron by Operation Oswego County, a local development agency. They met to discuss the business plan needed for the purchase and establishment of the diner in the town of Volney. Debora prepared a draft, which was reviewed by John. Based upon data provided by Debora, John drafted a proforma with loan structure set by potential lenders. John worked with lenders and helped Debora finalize the narrative and proforma. Funding was approved for the project relatively quickly. Debora invested $20,000 in cash and collateral equity. She obtained $89,000 from Empower FCU and Operation Oswego County contributed $25,000. The funding enabled Debora to create five jobs. “I had been working on my business plan for many months,” says Debora. “I had all of the necessary items needed, but needed help putting them together in a clear and concise format so that I could obtain funding. John took his time and knowledge to help me make my dream come to life both on paper and in real life. I could never have put the plan needed together without his help.” 

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