Montana & Idaho CDC Helps Young St. Anthony Entrepreneur Open Gourmet Burger Grill

May 4th, 2017 | By | Category: Business Features

Journal Staff

Krysten Davis is opening her Idaho Burger Grill on May 8 in St. Anthony.

Krysten Davis is opening her Idaho Burger Grill on May 8 in St. Anthony.

ST. ANTHONY – A young St. Anthony entrepreneur opened a new gourmet burger restaurant in late April with the help of a loan from the Montana & Idaho Community Development Corporation. The grand opening will be held May 8 at 11 a.m.

Idaho Burger Grill is the longtime dream of 24-year-old St. Anthony native Krysten Davis. Serving residents and visitors to Eastern Idaho, the restaurant will offer a variety of traditional and specialty burgers and sides, with an emphasis on locally sourced ingredients and a casual dining atmosphere.

In 2016, Montana & Idaho CDC loaned $5.1 million – more than half the value of all its business loans last year – to 32 entrepreneurs and small-business owners in Idaho, including Idaho Burger Grill.

Davis learned about entrepreneurship firsthand from her parents, who owned and operated several small businesses in rural Idaho. Throughout childhood, she honed her skills and work ethic at the family’s food truck restaurant. By high school, Davis and her sister had assumed responsibility for the food truck’s operations – from cooking to financial management.

After completing her degree in agri-business at Brigham Young University-Idaho, Davis

The Stockyard Burger (Idaho Burger Grill)

The Stockyard Burger (Idaho Burger Grill)

decided to pursue her dream of opening a gourmet burger restaurant in her hometown. However, due to the startup nature of the business, Davis was unable to obtain traditional bank financing. She contacted Montana & Idaho CDC, a nonprofit that provides financing and consulting services to entrepreneurs and small-business owners.

“As a startup, I found it difficult to obtain financing for construction and to purchase the equipment I needed to open the business,” Davis said. “I learned about Montana & Idaho CDC through the Small Business Administration’s LINC program, which connects business owners with SBA-approved lenders.”

Montana & Idaho CDC recognized the strength of Davis’ vision, the depth of her industry knowledge and the solidity of her business plan. In addition to providing Davis with a $120,000 loan for construction and equipment, Montana & Idaho CDC gave her technical assistance, including accounting support.

The Mac N Cheese Burger (Idaho Burger Grill)

The Mac N Cheese Burger (Idaho Burger Grill)

“Growing up in this business, it’s been a longtime dream to open a restaurant of my own,” Davis said. “It’s really special to be able to do so right here in St. Anthony. We think we’ll be able to offer something truly unique and special to both local residents and visitors passing through town.”

Montana & Idaho CDC specializes in providing loans to entrepreneurs and small-business owners who do not qualify, in whole or in part, for traditional bank financing for business startups, business purchases and existing businesses that are light on collateral or cash flow. In 2016, one-third of Montana & Idaho CDC’s loans went to startup businesses like Idaho Burger Grill. Loans range from $1,000 to $2,000,000 and can be used for purposes such as the purchase of real estate, equipment, inventory or an existing business, or for remodeling or working capital. Loan clients also receive one-on-one technical assistance in financial management, marketing, sales management and other area of business management.

“Montana & Idaho CDC has been an incredible partner throughout this journey,” Davis said. “Not only did they provide the capital I needed, but they also gave invaluable business advice that will set me up for success in the long term.”

“We are thrilled to be making our first loan to a small business in St. Anthony,” said Dave Glaser, President of Montana & Idaho CDC. “Small businesses like Idaho Burger Grill – and the visionary entrepreneurs behind them – are the building blocks of economically vibrant communities. We look forward to expanding our outreach and loans to small businesses in rural communities over the next few years.”

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