Harlow Café + Juice Bar, a beloved vegan and vegetarian restaurant in Portland, is relocating from its longstanding home on Southeast Hawthorne to a new space on Division Street. The move comes as the result of a strategic partnership with Dean Vacheresse of Vacher Group and TMC Financing, which facilitated an SBA 504 loan for the purchase of the new building.
The acquisition, totaling $1.6 million, enables Harlow to not only secure a prime location but also to own the property outright. The SBA 504 loan, structured with 85% financing at a 25-year fixed rate, offers stability crucial for the restaurant’s future.
While many believe securing SBA financing can be challenging, especially for businesses in the restaurant industry, Vacheresse stresses the importance of a strong financial track record to facilitate a successful transaction. Anna O’Brien of TMC Financing echoes this sentiment, highlighting how restaurants, given their focus on location, align well with the objectives of the SBA 504 loan program.
For Harlow, the move signifies new opportunities for growth and brand enrichment. Chef Adam Sappington envisions the new space as a hub for nonalcoholic gatherings, with plans to highlight a “no-proof bar” alongside a selection of natural wines and beers.
The expansion comes after navigating the economic uncertainties brought by the Covid-19 pandemic. Sappington and his team weathered the storm by doubling down on their commitment to quality and innovation, ultimately emerging stronger and more resilient.
As Harlow embarks on this new chapter, its old space on Hawthorne is poised for transformation into a new restaurant and bar, further testament to Portland’s vibrant culinary landscape.
The article concludes that with support from the SBA and TMC Financing, Harlow Café + Juice Bar is set to thrive in its new Division Street location, bringing its health-driven concept to even more patrons in the Portland community.