About a year ago, mid-pandemic, we began working with a hopeful franchisee of the The Broken Yolk Café, determined to do what we could to help the expansion of this small business. The last couple of years have been an up-hill battle for many, including the restaurant industry. COVID-19 has presented a mountain of challenges causing the economy to suffer. Entrepreneurs have been facing hurdles more exaggerated than normal - anywhere from initial funding to limited indoor gathering restrictions.
This particular loan also required some construction needs on top of equipment purchases, staffing costs, and many other expenses that come with starting a business. Construction during the pandemic came with a whole new set of obstacles as there were supply shortages, timeline delays and a lack of qualified laborers willing and able to work. Additionally, lead times on equipment ordering and the delay on production of supplies were an added complication.
Despite the additional difficulties, The Yuma, Arizona branch of The Broken Yolk Café opened its doors on May 1st, 2021. Gracefully navigating COVID-19 tasks and restrictions, their team working alongside ours, we were able to finance the construction expansion, equipment, working capital and ultimately launch their vision. The start-up loan fully funded at $850,000. The restaurant and its team are now doing better than projected and are looking into opening a new location later this year in the San Diego, CA area.
We want to thank the team at The Broken Yolk Café - Yuma, AZ for their patience and perseverance through the past year and wish them luck on all future endeavors.