The experience working with Dogwood State Bank was day and night compared to other banks, and we really felt they were looking out for our best interests throughout the process. Matt Putnam was engaging, proactive, professional, and always responsive. The SBA process can be overwhelming, but we felt comfortable with Matt’s guidance. He understands business and is very knowledgeable of the SBA Program. We would recommend him to anyone!
Client Profile
C&L Partners, LLC was established by Cheryl Clark-Stoner and Larry Adams for the purpose of opening a franchise drive-thru business in Anthem, Arizona, located just north of Phoenix. After researching different franchise models, Cheryl and Larry decided to pursue the coffee industry, and were ultimately attracted to a coffee franchise that was family-oriented and mission-driven in the way it sourced its ingredients. C&L Partners has established strong connections with its vendors and is focused on giving back to the communities from which they source their ingredients, like their coffee vendor in Guatemala and chai vendor in India. These quality ingredients provide the foundation for a versatile menu offering, including coffees and blended beverages, teas, energy drink infusions, Italian sodas, breakfast sandwiches, as well as burritos and pastries. Customers to this franchise coffee shop can expect a family atmosphere, catering to Anthem’s local clientele, where the customer comes first.
Loan Profile
When it comes to running a business, Cheryl and Larry know what it takes to be successful and together bring decades of combined experience. Cheryl grew up in a family business, where she went on to work and eventually retired in 2017, while Larry ran his own aircraft maintenance and management business for close to 20 years. Looking for a new opportunity in retirement, Cheryl and Larry saw the drive-thru franchise as an exciting new challenge. Attracted to the franchise model for its tried-and-true processes and corporate support, Cheryl and Larry began to seek out financing options for the business. They ultimately decided to pursue an SBA Loan and were connected to Business Lending Specialist, Matt Putnam through Dogwood State Bank Small Business Lending. The SBA Program allowed them to qualify for a loan they may not have otherwise qualified for, and provided an additional line of credit to help finance day-to-day expenses, inventory purchases, and construction costs. The Economic Aid Act also allowed the fees on their initial loan to be waived. Through the SBA Program, Cheryl and Larry were able to make their vision a reality, allowing them to start construction and giving them leverage as they continue to grow their business.
For more information on our SBA Program and to get to know Business Lending Specialist, Matt Putnam, explore our website!
