Supporting healthy and affordable food in Brookland Park
Borrower : Nomad Deli
Where : Richmond, VA
Loan Amount : $144,500
Project Type : SBA 7(a) Term Loan
Opportunity
Nomad Deli has been making its culinary mark in Richmond’s Brookland Park area since 2015. Founder Anthony Tucker opened the restaurant in an area lacking freshly prepared food wanting to fill that gap with affordable, fresh options and, as he says, “Put somethin’ good in ya mouth.” The minority-owned restaurant has run successfully with Anthony at the helm and the help of his two daughters, Sydney and Nina, his son Clay, and cousin Vic.
Anthony worked for 20 years as a commercial plumber before following his dream by opening Nomad Deli. With Sydney’s assistance in marketing and sales, Anthony was able to grow the business as well as Nomad Deli’s positive influence in the Richmond community. In addition to providing local schools with nutritious, vegetarian meals for lunch and special events through his catering and donation services, Anthony also helps organize community clean-up initiatives.
Since the restaurant opened, Anthony had been leasing a building in Brookland Park for the operation. The first floor of the 2400 sq. ft. building is entirely comprised of Nomad Deli with an occupied efficiency apartment directly above. To evolve his culinary vision and permanently establish the family business, Anthony wanted to purchase the building in its entirety. However, to achieve this, he needed some capital.
Solution
With help from partner Capital One, VCC established the Brookland Park Loan Fund and Advisory Services Program in 2017. Nomad Deli was referred through VCC’s technical assistance involvement in the neighborhood and instantly aligned with VCC’s mission to support small, local businesses, and encourage job creation and entrepreneurship through promoting healthy lifestyle choices. These factors positioned the deli as an ideal candidate to work with VCC and apply for a small business loan.
VCC is an SBA-Preferred Lending Partner and therefore has the option to use its authority to expedite the approval process for these federally backed loans. Our Loan Officers are trained in SBA eligibility and can save time upfront on structuring the best option for borrowers such as Nomad Deli. For these reasons, VCC has become a top SBA lender in Virginia. VCC’s staff also has expertise in USDA and other loan-guarantee programs.
Impact
The Brookland Park area in Richmond’s Northside is an economically challenged community of more than 5,000 residential homes but little to no business competition. The $144,500 loan allowed Nomad Deli to purchase the building, preserving its home in the neighborhood it has so faithfully served.
With their facility ownership official, Nomad Deli can continue to build the fabric of Richmond’s health food and beverage industry, stimulate the economy with the creation of vital jobs, and serve as an inspiration to other local aspiring restaurateurs in the community.