Success story · Restaurant franchise
Built From the Ground Up in Reno
Eric Vetter, the franchise owner, spoke to Nevada State Development Corporation about how an SBA 504 loan helped him expand and build a Steak and Shake in Reno from the ground up.
| City | Reno |
|---|---|
| Industry | Restaurant franchise |
| What the loan financed | Ground-up construction of the restaurant |
| NSDC filmed this story | 2018 |
The business
Eric Vetter is the franchise owner. NSDC filmed him about using an SBA 504 loan to expand and build the Reno restaurant from the ground up.
Ground-up construction on the 504 program
Franchise builds are one of the clearest fits for the program. The site, the building and the fixed equipment can all sit inside the same financing, at a fixed rate on the SBA portion, without draining the working capital a new restaurant needs in its first year.
“This one is our flagship location and we really wanted to do it right — and that meant buying the whole thing, dirt and everything.”
Eric Vetter, Steak and Shake franchise owner
Watch the story
NSDC’s Success Story film, on NSDC’s YouTube channel.