We think it’s important to give business owners a voice. Here is the story of Florence Chantepie, co-owner of Café Framboise.
Florence Chantepie and her husband, Dominique Chantepie, first began their entrepreneurial adventure in Los Angeles and San Diego. They opened their first restaurant, the French Café and Bakery, in 1991. The couple spent the next 18 years exploring different business ventures and even traveled back to the west coast of France to run a hotel.
The Chantepies eventually moved to the east coast of the United States in 2014 to open a French Café on Market Street in beautiful Charleston, SC. Now the couple is determined to bring a little bit of Paris to Charleston with Café Framboise.
For most small companies, the first year of business can be a challenge of meeting financial demands while still providing customers with the best service possible. The Chantepies were in need of constant cash flow to meet the expenses of Café Framboise, but it was difficult to make the necessary funding organically in the first year. To add to their obstacles, Café Framboise did not have the credit history built up that is essential for traditional bank loan approval. Even if their business had been able to secure a bank loan, the average loan process -90 to 100 days- was too slow to meet the immediate needs of the café.
With many years of experience in creating small businesses, Florence knew she needed to establish a new cash flow stream quickly in order to stay afloat; however, it was imperative to Florence to find a lender that would be able to give Café Framboise the time and attention it needed as a new business.
A Business Solution
Florence began to searching for capital with different alternative lending providers, but stated she wasn’t sure where to turn for information. Florence was referred to SnapCap’s co-founder, Hunter Stunzi, to discuss her business’ needs. After discussing her cash flow concerns Florence knew she wanted to apply for a small business loan with SnapCap because the processing was much faster than going to a regular bank.
Florence was very impressed by the quick turnaround with her business loan, which was perfect for maintaining her cash flow. The process lasted less than a week from start to finish. “It went really smoothly. I talked to them Monday and by Friday we had the money,” said Florence.
How SnapCap Helped
Florence was able to secure a one-year loan from SnapCap to meet her immediate cash flow needs. The repayment process is seamless with a small, daily withdrawal from their business account, which can make it easier on the cash flow of a business so it’s not hit with a large debit at the end of the month.
The café owner was happy with how timely and effortlessly the entire loan process went with SnapCap. “It’s easier for a small business like us to go through SnapCap since we were less than a year old at the time we applied (and it’s also) great for small businesses,” she added. Florence emphasized how efficient the loan process was for Café Framboise and noted that she would definitely work with them again if needed.