Long-time restauranteur Eduardo Acevedo knows a good deal and great customer service when he sees it. He found both in 2006 while working with Texas Certified Development Company (TxCDC) consultant Armando Ruiz on a SBA 504 loan application for his first restaurant, Eduardo’s Restaurante. A decade later, Acevedo jumped at the chance to start a second location and turned again to Ruiz and TxCDC for help financing his new venture.
Acevedo was first introduced to Ruiz by a Laredo community Lender and good friend, Jesse Trevino in the early 2000s. The restauranteur quickly found him benefitting from Ruiz’s business savvy and expertise in real estate and business development. “Armando is a professional and hard-working individual,” the Laredo businessman said. “With his experience and knowledge, he helped me secure the real estate and structure the project under the SBA 504 loan program.”
Eduardo’s first Restaurante quickly became a popular dining destination. Acevedo made the logical decision to open a second location in a rapidly growing part of Laredo. He knew the second restaurant would extend his brand, increase sales and create more jobs in the community.
Acevedo decided to reunite with Ruiz and TxCDC when he started looking for a location and considering financing the new restaurant. The 504 loan team also included International Bank of Commerce (IBC) loan officer Natividad Lozano. The funds from the 504 loan was used to finance the real estate for the new restaurant, make improvements to the existing building and buy equipment, furniture and fixtures.
Eduardo’s BBQ, Steaks and Mexican Grill opened in December 2015 in an area surrounded by Texas A&M International University, Laredo International Airport, hotels, sports facilities, shopping malls and residential areas. The restaurant has blossomed into a favorite dining spot by offering an extensive menu that includes bar-b-que, authentic Mexican food, American food and Tex-Mex.
Acevedo’s revenue forecast has proven accurate in the short time since the new restaurant opened. The company’s sales more than doubled in 2016. Furthermore, the new location created 36 new jobs for the Laredo area.
The South Texas entrepreneur hopes his experience in starting and growing a business can serve as an inspiration to others. “I think the SBA 504 program is a better option for new and expanding businesses to utilize for their project because you get a lower fixed rate while reducing the overall cost of the project,” Acevedo said before offering a hearty recommendation for Ruiz and TxCDC. “Armando’s professionalism, experience and dedication help streamline the approval and closing process. TxCDC processed the application in a very timely manner and both Armando and TxCDC provided good customer service.”