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10/09 Kitchen

TenNine_130615_555-2577130772-O
Location
132 East Pitt Street
Bedford, PA
County
Bedford
Description
Business Development
Total Project Cost
$137,800
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The sky is the limit for 10/09’s future

- Sara Letzo

People

Sara and Nick Letzo had dreamed about owning their own restaurant since they first met. Today, they own 10/09 Kitchen, a restaurant featuring New American cuisine with an Italian flair. With Nick as the lead chef and Sara handling the finances, they’ve utilized their combined years of hospitality experience to establish a venue that is completely unique from anything else in the area. “We are partners in life and in the restaurant,” Nick said. “I want great food and great service for everybody.”

Progress

The Progress Fund initially provided the Letzos with a $50,000 USDA RMAP microloan and an $8,000 microloan for equipment, leasehold improvements, and start-up costs. When the Letzos had the opportunity to purchase a liquor license, The Progress Fund provided an additional $5,800 toward the purchase. The Progress Fund later provided a $49,500 USDA RBEG loan to enable the Letzos to expand their successful restaurant along.  When the Letzos needed money for working capital, they turned to The Progress Fund for a $17,000 USDA RMAP microloan.

Impact

10/09 Kitchen has done extremely well and significantly exceeded the owners’ expectations. During their first year of operation, they served over 10,000 meals in less than a year with only 30 seats! “It has been quite a year for us,” Sara said. An expansion is in progress to increase the seating to 55 by the fall of 2014 to better accommodate their growing customer base. Due to their abundant 5-star reviews by highly satisfied customers on TripAdvisor and Yelp as well as referrals from local customers, reservations are highly recommended. “The sky is the limit for 10/09’s future,” Sara said.

The Progress Fund is an equal opportunity provider and employer.

10,000

Meals in less than a year with only 30 seats!

News about 10/09 Kitchen

10/09 = 10,000

We’re proud of our borrower, 10/09 Kitchen! Sara Letzo, co-owner of 10/09 Kitchen, recently joined 146 entrepreneurs from 38 states to graduate from Goldman Sachs 10,000 Small Businesses, a national program designed to help create jobs and stimulate economic opportunity. Goldman Sachs offers this program to help small businesses and is a major supporter of CDFIs. We appreciate their support … Continue reading Read the full post »