Eatery chosen as Horseshoe Foundation Small Business Revolving Loan Fund recipient
NEW ALBANY, Ind. (May 15, 2015) – Beginning as a road side bread stand, owner Laura Buckingham is leading the Bread and Breakfast team to a new location thanks to the Horseshoe Revolving Loan Fund. The Horseshoe Foundation of Floyd County (HFFC) announced today that Bread & Breakfast is the latest recipient of its Small Business Revolving Loan. The $50,000 loan will be used to purchase equipment for the restaurant’s new location at 37 Bank Street, New Albany, a historical building recently renamed The Underground Station. The “urban-rustic” location will have 45- 60 interior seats as well as 10 courtyard tables and an outdoor stage for local bands.
Owner Laura Buckingham began the business by selling her product to her friends and neighbors and then at Farmers’ Markets after she decided to forego store-bought bread in favor of homemade breads for her family. When the demand grew, she decided to offer her breads to local groceries and restaurants. The business took off after that.
Blayr Barnard, Regional Director of the Southeast Indiana Small Business Development Center, who worked with Buckingham during this process said, “Laura’s disciplined military background, coupled with her sunny personality and her love of quality local ingredients have baked their way into a successful business. Her bread and food have become a local weekend tradition through the farmers market and customers will follow her to her new location.”
The high demand for the bread is due not only to the company’s efforts to use only locally grown ingredients but also their variety of flavors, including gluten-free loaves. Bread flavors include: Ten Grain, Jalapeno, Herb, Amish White, Challah, Pepperoni and Banana Pepper, Chocolate Chip, Sweet Swirl and seasonal flavors such as Strawberry and Chocolate Zucchini.
“I am so thankful to the Horseshoe Revolving Loan Fund for seeing the potential of my business and investing in my dream. My friends, family, the downtown New Albany business community and my mentor Larry Schad have all been incredibly supportive and I wouldn’t be able to take this next big step into the restaurant industry without them,” stated Buckingham. Chef Robbie Walter added, “We have begun extensive training in the kitchen and of service professionals to insure the upmost culinary experience. We look forward to opening and offering Southern Indiana a truly unique dining experience.”
“We are very proud to provide low interest financing for Bread and Breakfast,” said Kevin Zurschmiede, chair of the Small Business Revolving Loan Fund. “This business is the culmination of every entrepreneur’s dream – starting in someone’s kitchen at home and growing to a thriving business. This loan will enable the restaurant to have all the financial ‘ingredients’ to succeed as well as create additional jobs for our community. We wish owner Laura Buckingham the best of luck.”
“Once again, this assistance to Bread and Breakfast proves how valuable of an asset the Small Business Revolving Loan Fund is to our Floyd County businesses,” said Wendy Dant Chesser, President and CEO of One Southern Indiana (1si). “We are proud of the role we play in administering the funds and hope other Floyd County businesses ready to grow and in need of low-interest capital loans will turn to the revolving loan fund as a potential partner.”
All Applicants submitting loan requests are required to be in business in Floyd County and have a minimum of two years’ experience. A nine-member Revolving Loan Fund Review Committee consisting of members from HFFC, the local business community, and 1si evaluates loan applications and determines funding decisions. Maximum loan terms are 10 years for land and building financing, five years for equipment loans and two years for working capital loans. The loans offer an interest rate of 2% below Prime with a minimum rate of 3%.
Businesses interested in learning more about the Horseshoe Foundation of Floyd County Small Business Revolving Loan Fund or want to obtain an application packet should visit 1si.org and click on the Business Resources tab or contact Elizabeth Baxter at [email protected] or 812-945-0266.
About Horseshoe Foundation of Floyd County:
The Horseshoe Foundation of Floyd County (HFFC) is a private foundation established in 1999 whose sole benefactor is Horseshoe Southern Indiana. The Foundation was created to encourage economic growth and improved quality of place in Floyd County. Since its beginning, the HFFC has given $33 million to the Floyd County community. For more information, visit:
About One Southern Indiana:
One Southern Indiana (1si) was formed in July of 2006 as the Chamber of Commerce and Economic Development organization serving Clark and Floyd Counties. 1si’s mission is to provide the connections, resources and services that help businesses innovate and thrive in the southern Indiana/Louisville metro area.
Since its inception, the organization has evolved to include a three-prong approach to serve its members and investors. Business Resources, as the chamber side of the organization, encompasses membership, signature events and programs which support and encourage business growth; Economic Development works to grow the regional economy through the attraction of new commerce and assists with retention and expansion of existing businesses; Advocacy supports businesses at the government level by engaging in initiatives to preserve, protect and promote a business friendly environment free of obstacles to growth and development of commerce. Visit 1si.org.