Debt Spiral – Stay Away from MCA's!
MCA = Merchant Cash Advance = Indigestion for Small Business Owners....
A totally different type of indigestion was the inspiration for the restaurant-formerly-known-as-Grease-Box – which is likely the ONLY totally gluten-free, greasy-spoon diner in the world.
Owner-chef Lizzy Boelter has Celiac Disease which inspired her to create – and I say this objectively – the best tasting gluten-free sourdough bread in the world. But not without facing some challenges along the way.
They've opened up to us about how Merchant Cash Advance companies lured them in with promises of quick cash loans, then put their cash flow in a headlock – taking up to 25% of their sales.
And how they are now turning to crowd-funding as a means of opening up their new location.
UPDATE: Lizzy and Hae have since put the brakes on their planned uptown Oakland location, but they are still baking away. This time selling their packaged dough!
You can follow them on their new venture at www.OiseauFoods.com
these are the best ways to listen to the show
stay up on new interviews!