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Award-Winning Chef Launches Restaurant with SBA Loan

Situation
The moment he realized his dream was to open his own restaurant, Florida-native Edouardo Jordan applied for culinary school in 2004. One of Jordan’s early culinary positions after attending Le Cordon Bleu was the Herbfarm in Woodinville, Washington. He went on to work in New York for several years at Per Se and Lincoln Ristorante and spent a month working with salumists in Parma, Italy. As Jordan learned and grew as a chef, he also started formulating his business plan. By 2012 Jordan was back in Washington working as the Head Chef at Bar Sajor, winning awards and local acclaim. He determined that Seattle was the right place to open his first restaurant, and that his restaurant would reflect his personal culinary story, including everything he was taught and everything he’d eaten—Italian and French influenced by the Pacific Northwest with a little Southern. With help from a Greater Seattle SCORE mentor, he wrote his business plan and teamed up with his sister, Alzadia Lucinda to raise capital. In 2014 he sent his business plan to five different banks, all of which turned him down.

Solution
The sixth bank Jordan visited was Columbia Bank, where he met with Gregg Ridgeway and learned about the SBA Guaranteed Loan Program. Ridgeway was impressed by the business plan and even more impressed by Jordan, being familiar with his culinary work from his rave reviews. In 2015 Jordan was approved for the $350,000 SBA-backed funding he needed to launch his restaurant, Salare.

Impact/Outcome
Thanks to the SBA-backed loan from Columbia Bank, Jordan successfully started his business. His plan entailed creating a marketing and management company, Power 3 Marketing and Management, which would oversee the launch of Salare and all other future projects. The SBA loan allowed Jordan to sign the lease for Salare, renovate the space and buy furniture. More importantly to Jordan, it allowed him to avoid a multiple owner/investor situation and enabled him to keep his project a small family-owned business with his sister. In 2015 Power 3 Marketing and Management started with 12 key people and today employs 43 staff at three different restaurants including Salare, JuneBaby and Lucinda Grain Bar. All three restaurants have won awards. In 2016 Chef Jordan was named one of the best chefs in the nation and Salare was named one of the top 10 new restaurants in the U.S. Eater.com named Jordan best chef in Seattle in 2016 and has earned top reviews from the New York Times. In 2018 the James Beard Foundation named Jordan best chef in the Pacific Northwest for Salare and JuneBaby the best new restaurant in the country.

From the owner
“Work harder than the next person. Running a small business and being an entrepreneur requires a lot of time, energy and dedication. You have to apply that to every second you have and build a successful foundation.”

Company Name: 
Salare