Biz2Credit Helps New Orleans Restaurant Owner with Key Renovations
Jeff Carreras, Owner of NoLa's Tracey's Original Irish Channel Bar, has been in the restaurant business for almost 20 years.
"I opened Tracey's 7 years ago, in September of 2010," says Carreras. "Before that, I owned and managed another restaurant for 13 years."
There is no doubt that New Orleans, a thriving foodie hot spot, offers plenty of award-winning, delicious food and drink options. Despite the tough competition, Tracey's 2016 revenue was $550,000. Carreras attributes some of his restaurant's success to Biz2Credit.
"It's been almost 3 years since I first applied for a small business loan," says Carreras. "Before I reached out to Senior Funding Specialist Rony, Tracey's didn't really have substantial cash flows. But with Biz2Credit's help, I was able to make significant improvements to my restaurant"
Referred to Biz2Credit by his credit card processor Heartland Payment Systems, Carreras was able to extensively renovate Tracey's kitchen in 2014, in addition to purchasing inventory for the many large parties that the restaurant often hosts.
"We have a 40 sq.ft space upstairs that we are currently renovating as well, thanks to Biz2Credit," says Carreras. "It's gorgeous, with a wraparound balcony and large French doors. We get many requests to host weddings, anniversary parties, etc. Being able to offer that space to customers helps our business go beyond the typical restaurant and bar to become a premier local event venue."
Pleased with the funding and service he received, Carreras says he would absolutely recommend Biz2Credit to any restaurant owner looking for financing.
"The application process was incredibly simple," says Carreras. "Just a few questions, and I rolled right through. I was able to receive a business advance of $70,000 in 24 hours."
"By borrowing against my credit cards, I am able to stay afloat," continues Carreras. "Biz2Credit takes a small percentage of credit card revenue every day. Doing it this way doesn't kill me!"