Company description: The Bull Run Tap House is a casual restaurant in Lewisburg, Pennsylvania with cold beer, good food, and a fun, friendly atmosphere.
Problem/issue that required assistance: Julian native Braden Klinger had 30 years of restaurant experience when he decided he wanted to own his own restaurant. He needed assistance to purchase the restaurant.
Solution/outcome & future potential: The Bucknell University Small Business Development Center (SBDC) helped Klinger work through some of the change-of-ownership challenges including researching community demographics, regional planning, and exploring local food market niches. “The Bucknell SBDC is a great resource for local entrepreneurs,” Klinger said.
SEDA-Council of Governments (SEDA-COG) and Citizens & Northern Bank of Williamsport helped Klinger purchase the restaurant. SEDA-COG provided a $360,500 Small Business Administration 504 loan and a $77,250 TEAM loan to support the project.
SEDA-COG’s loans and assistance empowered Klinger to structure the financing how he wanted it, and gave him low interest rates. “Having the SBA 504 loan commitment early on put me in the driver’s seat so I could pick other financing that would fit me the best without looking for outside investors. It helped me maintain control of the process and my business,” Klinger said.
One year into owning the Bull Run Tap House, Klinger is thrilled with how business is growing: Sales have increased by almost 30 percent. They’ve grown from 23 employees to almost 40.
And, they’re working to expand their menu. While burgers and sandwiches are their current best features, they’re looking to add more salads, steaks, seafood, and pasta.