14 Jobs Retained
1.5 Jobs Created
625 More Customers
9% Increase in Sales over Last Year
1 of 31 Loans to Women-Owned Businesses
In 2005, Serena Rundberg left her career in Silicon Valley, California and moved to Bozeman, Montana to pursue her passion for cuisine. She purchased an existing restaurant on Main Street—the Nova Café—and began her culinary pursuit. Now a hip downtown mainstay, the Nova Café, like its owner, is known for its strong sense of style, as well as its unique menu of locally-sourced food served by an outgoing and much-loved staff. However, in 2012, The Nova Café required some major facility renovations and equipment upgrades in order to keep up with demand and new health code regulations.
Like most businesses that require construction improvements in a leased space, Nova Café’s repairs were expensive and didn’t qualify as collateral for a standard, commercial bank loan. Serena’s banker suggested she contact Montana & Idaho CDC for financing. Montana & Idaho CDC was able to utilize the SBA 7a Community Advantage Guarantee to shore up collateral along with capital from the Goldman Sachs 10,000 Small Business Initiative to provide Serena with the loan she needed for upgrades. The loan allowed Serena to complete the necessary improvements, keep her 14 employees downtown, and added a full-time barista position and additional prep shifts.
The Nova Café, which just earned the honor of “Best Breakfast in Bozeman” for the fifth consecutive year, is continuing to thrive and contribute to the vitality of downtown Bozeman. The cafe’s new barista, says it best, “I’m thrilled to have a job downtown. It’s exciting to work in a local business that allows me to support myself, especially in these difficult financial times.” That’s music to our ears.
312 E. Main Street
Bozeman, MT 59715