(1888PressRelease) An employee of a local business who was being laid off wanted to become his own boss and buy the business, but couldn't find financing. He contacted Angelo Sferrazza for funding, established a successful Sports Bar and Restaurant and is now ready to expand his business to include a second location, none of which was possible without bridge financing and financial mentoring for future success.
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Angelo Sferrazza, President Of Bridge Fund, Helps Entrepreneur Go From Employee To Business Owner
(1888PressRelease) An employee of a local business who was being laid off wanted to become his own boss and buy the business, but couldn\'t find financing. He contacted Angelo Sferrazza for funding, established a successful Sports Bar and Restaurant and is now ready to expand his business to include a second location, none of which was possible without bridge financing and financial mentoring for future success.
Angelo Sferrazza, President, The Bridge Fund, announces that new funding has been provided to a local businessman to open his second Sports Bar and Restaurant in Southwest Ohio. Mr. Sferrazza had previously provided One Hundred and Fifty Thousand Dollars in initial funding in participation with a third party lender to help this local businessman purchase and reinvigorate an existing business.
"This is a great example of how bridge funding can help an individual with the dream of owning his own small business", says Angelo. "This now successful businessman was a former employee of the existing business who was on the verge of getting laid-off his job. He had a great idea of how he could reinvent the existing business before the business was forced to shut down, but traditional funding wasn\'t available. He was referred to Angelo Sferrazza to develop a Business Plan for Success. After meeting with this budding business owner, and revising the plan, I felt there was a real chance for him to succeed."
Within the space of a few years of being mentored by Mr. Sferrazza this local Ohio businessman has created a unique community venue with his concept of offering patrons a sports atmosphere with restaurant capabilities and entertainment provided by music professionals during the weekend and at other selected times. Plus, both locations will create new jobs that in turn impact the economic development of the local communities. "This is why the \'Bridge Lending Programs" were developed," says Angelo, "to supply \'short-term\' financing for those businesses who need more timely funding such as this businessman needed to open his first and second entertainment venues".
"We are proud to be involved in helping this former employee become a business owner and create jobs for others, and look forward to a successful future relationship\', says Angelo.