Nothing Bundt Cakes
Client: Deborah Holt
Assistance: Business Plan, Financing
Bank Funded: Yes
Business Opened: Oct. 2015
City: Midland, TX
Deborah Holt contacted the UT Permian Basin SBDC in September 2014. Deborah had already been associated with the Nothing Bundt Cakes Franchise, however she needed a bank loan for majority of the building and equipment. After forming a well-researched business plan, the bank that Deborah originally had went to requested larger equity and industry experience.
As a result, we suggested that Deborah should meet with another local bank who would potentially consider an SBA loan. Fortunately, Deborah's loan request was accepted and was able to begin construction of her own Nothing Bundt Cakes franchise.
On Oct.1, 2015, Deborah, along with the Midland Chamber of Commerce, held a ribbon cutting ceremony. Her business has grown to become the talk of Midland!