A Redlands company that funds loans for companies looking to expand or buy new property in the Inland Empire has helped bring the first Beef 'O' Brady's sports pub to the West Coast.
Enterprise Funding assisted business partners Lee Alvarez, Sr., Lee Alvarez, Jr., and Rolando Chicas secure funding for their $2.2 million project in Hesperia through the SBA504 loan program, according to a news release.
Beef 'O' Brady's is a popular chain of sports pubs located on the East Coast.
Enterprise Funding provides loans for Inland Empire companies that are structured in a way that is favorable for small businesses, according to the company. The loans require the borrower to put down 10 percent and has a 20-year fixed not rate, which currently is at 2.168 percent.
The partners used the loan to repurpose an old Bob's Big Boy in Hesperia.
“The city of Hesperia will benefit tremendously from this business venture. Immediately, 110 new jobs were created when the doors opened, and a dilapidated building was brought back to life,” said Gwen Bedics, SBA Relationship Officer with Enterprise Funding.
Bedics put together the loan.
“According to Beef ‘O’ Brady, this location is listed among the franchise as having one of the highest grossing sales in the nation, so the revenue to the city will not be insignificant,” she added.
The three partners are not new to the restaurant business. They own eight El Pollo Loco franchises and the Wood Grill Buffet in Hesperia.
“It was a pleasure working with Gwen," Alvarez, Jr. said of working with Enterprise Funding. "Everything went very smoothly and they were very helpful.”
For more information about Enterprise Funding, call 909-792-3803.