Small Business Offers Creative Spin on Catering, Expands in Las Vegas Market
Catering is becoming an elevated art form in the “Entertainment Capital of the World” – it is now part of the show. This trend became the foundation for one local catering company, Cut and Taste, to create unique experiences that complement the dramatic and lively Las Vegas style.
“Catering is not just a necessity anymore, it has to be a highlight of the event, especially here in Las Vegas,” said Alex Barnett, one of three owners of Cut and Taste and a University of Nevada, Las Vegas graduate. “When we started this business, we wanted our food to exude creativity and innovation. We are constantly scoping out new ways to present food, display buffets and create stations that are unique and offer an unexpected experience.”
Not only does it take plenty of creativity to stand out in the Las Vegas market, it also takes space – something Barnett and his business partners, Adam Pusateri and Las Vegas native Jeremy Jordan, needed in order to accommodate their growing company. The team recently purchased a much larger building in Las Vegas, with the help of an SBA 504 real estate loan from TMC Financing.
“Getting this loan was honestly a lot easier than even getting a loan for my own house,” Barnett said. “The team at TMC Financing made our expansion such an easy process. They took the stress out of it so we could stay focused on our day-to-day operations and upgrade the new building.”
TMC Financing is the top provider of the U.S. Small Business Administration 504 loan program for commercial real estate financing in California and Nevada. They provide funding to small, local businesses to help expand their facilities and production in a way that is affordable.
“Small business expansion is absolutely essential to building a stronger market foundation here in Las Vegas,” said Chris Hunter, senior vice president of business development at TMC Financing in Southern Nevada. “Cut and Taste is a perfect example of what smaller companies can really do if they have the opportunities that an SBA 504 loan provides.”
TMC Financing partnered with Valley Bank of Nevada to finance the purchase of the 8,600 square-foot building previously utilized by an artisanal foods company. The total project amounted to $1.7 million which included the $1.3 million building purchase plus over $150,000 in equipment purchases, building improvements, and expansion of the existing space.
Cut and Taste has become a trendsetter in recreating catering in Las Vegas. Its unique designs include a wall showcasing charcuterie on handheld cutting boards, live hands holding Champagne through a vine-covered wall and a Halloween food display featuring a masked server in the center of the table.
The company offers services for a variety of events, including weddings, corporate socials, conventions and destination catering. Cut and Taste’s unique approach to food and presentation has attracted an array of notable companies such as Google, Berkshire Hathaway, Switch and their newest partnership, Area 15.
About SBA 504 real estate loans
The U.S. Small Business Administration 504 loan program allows small-business owners to finance commercial real estate and other fixed assets with long-term, below-market, fixed interest rates. SBA 504 loans can be used to finance the total project cost (TPC), which can include the purchase price, construction/renovations, equipment, soft costs and closing costs. A typical 504 loan project requires a down payment of only 10 percent of the TPC from the borrower, with the remaining amount split between a first mortgage provided by a commercial lender and a second mortgage provided by a certified development company (CDC). By enabling owners to keep their capital working to grow the business and create jobs, the 504 program provides long-term stability to both businesses and communities. Business owners can confirm they meet the qualifications for an SBA 504 loan by visiting the TMC Financing website.
About TMC Financing
Founded in 1981, TMC Financing is the largest provider of SBA 504 commercial real estate financing in California and Nevada. TMC consistently ranks among the top CDCs nationwide, funding projects worth more than $9 billion across California and Nevada. More than 5,000 businesses have benefited from this financing, resulting in the creation of an estimated 60,000 jobs. For more information on SBA 504 loans and the local businesses they support, visit tmcfinancing.com.