Two Businesswomen Open a Juice Bar in a Red Caboose on the Coast of Mississippi

LONG BEACH, Miss.–(BUSINESS WIRE)–Jul 21, 2023–

After a journey that began on the railroads of Louisiana, two businesswomen have opened a juice bar in a red caboose on the coast of Mississippi. A Small Business Boost (SBB) loan from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Renaissance Community Loan Fund (RCLF) moved them along the track to entrepreneurship.

The Juicy Caboosy: A Unique Business Venture

Tomeka Bryant and Ailsa von Dobeneck met when their careers crossed paths in the railroad industry. They forged a friendship over shared business interests that got them talking about an investment of a different sort. After noticing a growing number of decommissioned cabooses, the two women hatched a business plan to buy a caboose and turn it into a business.

Now, The Juicy Caboosy is a juice bar and eatery in Long Beach, Mississippi, along the Mississippi coast. The pair renovated their decommissioned caboose into a juice bar with an outdoor deck and seating area. The business has gained popularity among tourists, offering fresh juices, smoothie bowls, and other refreshing menu items.

Financing the Startup: The Role of SBB Loans

A $59,000 SBB loan from FHLB Dallas through RCLF helped fund the startup. The financing included a $241,000 RCLF loan, which was supplemented with personal funds from Ms. Bryant and Ms. Dobeneck. FHLB Dallas offers SBB loans through member financial institutions to provide financing for qualified small businesses. These loans bridge the gap between the loan amount that an FHLB Dallas member institution can fund and the loan request made by an eligible small business.

How AI legalese decoder Can Help

The AI legalese decoder is a tool that can simplify complex legal documents, contracts, and loan agreements associated with small business loans, like the SBB loans offered by FHLB Dallas. By using the AI legalese decoder, business owners like Tomeka Bryant and Ailsa von Dobeneck can easily understand the terms and conditions of their loan, ensuring transparency and informed decision-making.

Renaissance Community Loan Fund – Empowering Small Businesses

The team at RCLF was impressed with the businesswomen from the start. President Kimberly LaRosa stated, ÔÇ£Ms. Bryant and Ms. Dobeneck had a great business plan and strategy. We could tell they had the drive to make their vision come true, and we knew The Juicy Caboosy was going to be a success.ÔÇØ

RCLF, a different kind of lender, focuses on helping residents in Mississippi and Alabama achieve their dreams by providing the skills, information, and financial resources they need. With the support from RCLF, small businesses like The Juicy Caboosy can thrive and contribute to their local economies.

Supporting Small Businesses through the SBB Loan Program

One advantage of the SBB loan program is that borrowers do not begin repaying the loan until after the first year. This feature helps newly formed small businesses build cash flow during their crucial initial year of operation. According to Greg Hettrick, senior vice president and director of Community Investment for FHLB Dallas, RCLF has been instrumental in successfully guiding small businesses from the concept phase through to their launch, as demonstrated by The Juicy Caboosy’s journey.

For more information about SBB loans and the financing options available for small businesses, visit fhlb.com/sbb.

About Renaissance Community Loan Fund

Renaissance Community Loan Fund is on a mission to empower people with the skills and information they need to improve their finances. RCLF can help you go from needing your credit repaired to being ready for a home or business loan. Renaissance Community Loan Fund is a different kind of lender ÔÇö focused on helping residents in Mississippi and Alabama achieve their dreams.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $181.2 billion as of March 31, 2023, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit our website at fhlb.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230721941336/en/

Contact Information

Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445

Keywords

UNITED STATES, NORTH AMERICA, MISSISSIPPI, TEXAS

Industries

BANKING, RESTAURANT/BAR, PROFESSIONAL SERVICES, BUSINESS, PERSONAL FINANCE, SPECIALTY CONSUMER, SMALL BUSINESS, FOOD/BEVERAGE, RETAIL, OTHER PROFESSIONAL SERVICES, WOMEN, FINANCE

SOURCE: Federal Home Loan Bank of Dallas

Copyright Business Wire 2023.

PUB: 07/21/2023 02:52 PM/DISC: 07/21/2023 02:50 PM

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