Artisan Chocolate Company Secures Expansion Loan with SBA Help

Feb. 14, 2011 - PRLog -- The Secret Chocolatier, a  family-owned and -operated business, successfully ran the gauntlet of small business lending underwriting and emerged with an Small Business Administration-backed loan. The company will use the proceeds to build its first retail location in Providence Plaza this spring.

“When we started writing our business plan a year ago, I would never have guessed that it would take so long,” said Andy Ciordia, one of the owners. His advice to other businesses in need of operating or expansion funding? “You’ve got to run a profitable business backed by an airtight business plan to qualify for a small business loan during this recession.”

The Secret Chocolatier, http://thesecretchocolatier.com,  is a three-year-old business owned by Andy, his wife Robin, and her parents Bill and Karen Dietz. Andy took the lead on writing the business plan and negotiating with landlords, contractors and banks until the right combination of location, build-out and financing came together.  

Andy observed that risk minimization was the focus of potential landlords and banks. The Secret Chocolatier minimized risks by:

- Waiting to apply until the business could demonstrate two profitable years of operation.  This meant the owners all had to keep their day jobs and plow the profits back into operations.

- Keeping meticulous records and retaining the professional advice of an accountant.

- Acquiring the proper licenses before applying for the loan.

- Building a business plan with pro-forma financials that the owners could explain and defend in detail.

- Bringing in experts for advice and feedback. Andy’s friendly advisers included an MBA, a chocolate consultant, a SCORE representative, a former building contractor, a capital equipment leasing specialist, and an industrial production manager.


For those who aspire to land their first business loan, Andy cautions, “Even with all of this you will still look bad to most banks.  We researched all the local options then formally interviewed three banks before we found the right fit. You need a tough hide to prevail against strong anti-risk headwinds. Don’t give up on the first declination and be prepared to re-structure your request.”

With funding in place, and a signed lease the company has turned its attention to getting its building permits so that Peter Vasseur of Vasseur Home Design can get to work on its Providence Plaza shop. The company plans to be open for business in time for Passover and Easter.

The Secret Chocolatier currently sells its confections at Atherton Mills and Market, Matthews Farmers Market, and the Farmers Market at Yorkmont . It wholesales its hand-made fare to retailers including Vintner Wine Market , both Common Market locations, Blynk Organic and Hillbilly’s Produce. It will continue doing so even after opening the Providence Plaza location. Robin Ciordia said, “Our farmers market customers were a bit worried when they learned we were setting up shop, but why would we drop the markets? We love being a part of the spirit there.”

“As a matter of fact, it was our success with these markets and retailers that proved to the bank that our chocolates had a niche and our management team had the mettle to pull off a retail location of our own,” said Andy. “In a start up, you’ve got to crawl before you walk.”

The Secret Chocolatier will be located at 2907 Providence Road, Suite 104, Charlotte, NC 28211

Hours of operation:
Monday – closed;
Tuesday through Friday 10:00 a.m. to 7:00 p.m.;
Saturday 11:00 a.m. to 7:00 p.m.; and Sunday from 11:00 a.m. to 3:00 p.m.

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We're a family of chocolate artisans, using traditional recipes and channeling our passion for chocolate into handmade truffles, enrobed brownies, cakes and all manner of favors. Your tastebuds know the difference.