Finance Center

Tapa the World

Turned down repeatedly by lenders, the SBDC helped this small business understand their financials and tell their story to the bank, allowing them to obtain a loan to purchase their dream business successfully.

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Tapa the World: $250,000 Loan Secured, 21 Jobs Saved


Challenge

For more than a decade, Chef Marcos Murrilo played a pivotal role in shaping Tapa the World’s menu as its executive chef. When the previous owner decided to sell, Chef Marcos saw an opportunity to continue the restaurant’s legacy under his leadership. However, after spending a year seeking funding, he faced multiple loan rejections. Despite his deep knowledge of the kitchen, he was unaware of how poorly the business’s finances had been managed, leading to cash flow problems that discouraged lenders. Without financing, the restaurant risked closing its doors for good.

SBDC STRATEGY

Fast-Track to Funding:
Finance Center Advisor Oscar Garcia worked closely with Chef Marcos to:

  • Refine Financials for Lender Approval: Oscar helped clean up the restaurant’s financial records, identifying and eliminating non-essential expenses.
  • Prepare Loan-Ready Documentation: Together, they compiled tax records and interim financial statements that presented a stronger financial outlook.
  • Secure a Lending Partner: Oscar facilitated a connection with the California Statewide CDC, an SBA nonprofit lender, ensuring the loan application aligned with the lender’s expectations.

By leveraging SBDC’s financial expertise and lending network, Chef Marcos was able to present a compelling loan application.

MEASURABLE OUTCOMES

  • $250,000 in Capital Secured: The approved loan allowed Chef Marcos to purchase the business and maintain operations.
  • 21 Jobs Saved: Retaining the full restaurant staff ensured continued service for loyal customers.
  • Long-Term Business Stability: With improved cash flow and financial management, Tapa the World is now on a sustainable path for future success.

SBDC taught us how to run the business side — HR and onboarding with employees. I’d have no idea if I didn’t have someone guiding me through it…

Marcos Murrilo