The Tribune

A restaurant has obtained $89,000 in loan financing from the Bahamas Development Bank (BDB) after working with the Small Business Development Centre (SBDC).

Owned by Kimberly Marshall, pictured, Dynasty Café is a soul food eatery that will serve breakfast, lunch and dinner. It will be the first café to have buffet-style eating on Sundays for breakfast and brunch, and is the inaugural restaurant to be funded by the SBDC.

Ms Marshall, who found out about the SBDC while watching the TV news, linked with the Centre to take advantage of the opportunities offered. Now funded, the entrepreneur wants to set the bar high while encouraging other business owners.

"Being funded feels almost unbelievable and too good to be true. I was beyond excited about this tremendous opportunity to start my business. This was always a passion for me," Ms Marshall said.

"I am also able to spread the good news to all of my classmates who started with me at the SBDC but fell by the wayside because of discouragement. I want to let them know the SBDC is the gateway to the other side for aspiring entrepreneurs like me."

Winston Mitchell, the SBDC's advisor for Dynasty Café, said: "Kimberley is one of the most determined persons I've ever met. Despite challenges and setbacks, she continued to be strong and push to see her vision funded. I believe that Dynasty Café will succeed because the restaurant's owner is determined to be successful. The SBDC only gave Kimberly the tools and guidance to remain successful."

Before joining the SBDC, Ms Marshall tried for five years to obtain financing and now believes the centre is the solution when it comes to small businesses accessing capital.

"I feel without the SBDC it is near impossible to get funding to start your business," she added. "The SBDC is the solution. They are your guarantors. They convince the financial institution to see the vision because they believe in you and your dream.

"Before the SBDC I tried to access funding from other financial institutions and I was unsuccessful. Financial institutions told me I needed capital or collateral to start my business; this was five years trying.

"The SBDC was the foundation for the Dynasty Café. It was a long journey to get to where I am at today. I believe hard work and dedication will always pay off as long as you have determination. The SBDC is indeed the solution for persons wanting to get a fresh start."

The SBDC is the product of a tripartite arrangement between the Government, through the Ministry of Finance, University of The Bahamas (UB) and the Bahamas Chamber of Commerce and Employers Confederation (BCCEC). The Centre works to guide the development, funding, growth, and evolution of micro, small and medium-sized enterprises (MSMEs) in The Bahamas.