Locksmith Wine Bar BRISC Loan Announcement
New York, New York – Maximiliano Napa opened Locksmith Wine Bar in 2009 with the intention of creating a family-owned business that provided a casual and warm atmosphere in the neighborhood where residents could get together. Starting a restaurant in an area of Washington Heights that was largely underserved, especially when it comes to eateries that cater to family dining, Mr. Napa found success. The inspiration for Locksmith Wine Bar is casual simplicity with an emphasis on high quality and low-cost comfort food, served with fresh produce and local bread baked daily. With a growing customer base, Locksmith Wine Bar has now outgrown its small kitchen with electrical appliances and small dining area.
Mr. Napa came to UMEZ’s Business Resource Investment Service Center, Inc. (BRISC), a Community Development Financial Institution (CDFI), with plans to expand the restaurant to the additional space next door. Through BRISC, small business loans are possible to provide funding to businesses that qualify. Loans range between $50,000 and $250,000 and are aimed at small business formation and existing business expansion to create economic vitality in Upper Manhattan. With expertise from UMEZ staff, Mr. Napa completed his business plan and finalized goals for the expansion.
Mr. Napa obtained a $200,000 loan for the expansion of Locksmith Wine Bar, Inc. in Washington Heights. The expansion will combine the restaurant’s existing space with an additional 900 square feet of space immediately adjacent to it. BRISC loan funding will contribute to increasing the number of seats in the restaurant from 25 seats in a 600 square feet space to 60 seats occupying 1,500 square feet.