Dreams Really Do Come True: SBA’s Small Business Development Centers help to make a dream a reality

SBDC at Canton
Canton, NY

Loretta Thayer is setting the trail for baby boomers to come. At the active age of 70, she opened her dream business in De Kalb Junction, N.Y.--the Silver Leaf Diner. Loretta has an unusual association with the diner, having worked there as a young woman after it was built on land purchased from her father more than half a century ago. Like so many other entrepreneurs over 50, Loretta had always dreamed of owning her own business. However, taking care of her family and helping her husband with the family farm came first in her life.

After operating a dairy farm with her husband for 50 years, Loretta was encouraged by her family to fulfill her lifelong dream. She made the decision to reopen the diner in 2002, which had been closed since 1991 and run by several owners.

Loretta, who happened to live near the diner, sought the help of Dale Rice at the Canton, N.Y. Small Business Development Center. Dale helped Loretta with a business plan and financial projections for the diner. He also helped her secure financing to open the $85,000 business. Loretta received two key loans of $60,000 and $20,000 from Gouverneur Savings & Loan and the New York Business Development Corporation.

"When Loretta and her son came in to see me, her eyes lit right up when she started talking about her plans for the diner," recalled Dale Rice, her business adviser. "She was so excited and absolutely determined to open this diner that I knew she could do it."

Reopened under its original name, the Silver Leaf Diner offers a welcoming, family atmosphere. Loretta wants the diner to be recognized for its good food and friendly service, but most of all for its homemade pies, which are specially displayed in the dining area. The diner’s pies are so popular that oftentimes customers will select their pie choice even before ordering their meals.

"I waited on a customer that I had waited on more than 50 years ago when I worked here," said Loretta. "She was so pleased that the diner was open again and that it was so charming inside. Knowing that I am making people happy with my home cooking and a friendly atmosphere is why I'm doing this and enjoying it so much," Loretta added.

After working alongside her husband for five decades, Loretta is finding herself hard at work again, putting in long hours, and enjoying it all. Now 75, Loretta has no intention of retiring to the rocking chair any time soon.

Loretta has proven that it is never too late to make your dream come true.

> Return to "How has the SBA helped others?"