SchoolFoodies: Going Green
SchoolFoodies is a certified Bay Area green business that provides fresh, healthy meals to local school kids. In partnership with CBB, they used an SBA loan and a Line of Credit, to green their business as they cornered a growing niche market.
Using an SBA Loan to Evolve and Grow
SchoolFoodies is a family-owned and operated catering business since 1946, when they bought their first delivery truck. What started out as Upton’s Restaurant in San Francisco’s Financial District, evolved into a green commissary serving private schools in the Bay Area.
In 2006, when Dennis King took over the family business, he embraced changes necessary for the business to succeed. Although they saw an immense opportunity in providing healthy school lunches, the growth and profitability of the business was a challenge. Year after year, SchoolFoodies applied to the major banks for help, only to be rejected. After contacting Community Bank of the Bay, they found the right banking partner and assessed the ability to make the changes that the business needed to grow, evolve and succeed.
We have two beautiful new delivery vans, and our meals look so much more appetizing in our innovative, new, compostable containers. Our quality, consistency and production speed have all improved, thanks to our new production equipment, and the credit line has stabilized cash flow, reducing stress and allowing us to stay focused on delighting children every day at lunchtime.
-Dennis King, Client
The SBA Advantage Loan
Community Bank of the Bay recommended the 7a (Advantage) SBA Loan to consolidate their multiple, small high-interest loans and upgrade their production line. SchoolFoodies was assembling and packaging meals manually, but an SBA loan for Capital Equipment enabled production line automation and the development of innovative, environmentally-friendly meal trays.
The Line of Credit
CBB also provided a Line of Credit to cover the seasonal gap between June and September. This allowed the business to retain staff in lean months and pay off their loans in high season. The Line of Credit improved cash flow, which freed up capital to grow the business further. It gave them the opportunity to service their debts and pay vendors promptly, improving their chances of securing financing for further growth.
The CBB Difference
As an SBA Direct Lender, Community Bank of the Bay approved and processed the SBA loan and Line of Credit for SchoolFoodies in just 45 days. With our preferred status as an SBA lender, and our quick in-house decision-making process, we delivered an effective financing solution when it was needed most.
Beyond our considerable lending capacity, which SchoolFoodies can continue to use as they grow, we found food industry experts and business consultants to advise and assist them. We found local experts who could help because of our deep local ties across all sectors of the local business community.
Working with SchoolFoodies gave CBB the opportunity to use a full range of tools and experience to help meet the challenges facing a small business trying to expand. We pride ourselves in maintaining long-term relationships with clients like SchoolFoodies and support them as they continue to grow.
RM Wilbur Hobbs, Jr.
As CBB’s Chief Lending Officer, Wil Hobbs understands the special needs of multi-generational businesses. He took time to fully understand SchoolFoodies’ business model and pitched their case to our experienced bankers. Time and again, the CBB team mobilizes industry expertise and local networks to deliver comprehensive support, quick financing and practical cost-saving solutions.
Where all the bigger banks had failed SchoolFoodies, we spent time learning about their business. Our decision was not based solely on financials – they had the experience, products, processes, people and vision to succeed. We helped a business that helps growing children and the environment, which is great for us, them and the wider community.
– RM Wilbur Hobbs, Jr.
Community Bank of the Bay helps businesses achieve growth while offering customized support. By providing personal attention and assistance we ensure our client’s business is in the best financial situation.
Find out how you can help your business grow. Schedule an appointment with a relationship manager at one of our three locations or they can come to you by completing the form: