|The Porch is among the businesses that have benefited from the city of Winston-Salem's loan program.|
The city has approved $6.1 million to 142 businesses over the past 28 years, according to information provided by Assistant City Manager Derwick Paige. Of those, 21 businesses withdrew, two are under legal action and two are pending. Alarming perhaps, only 48 remain open, while 69 are closed. The city estimates that about 491 jobs were created through the loans, which equates to about $12,398 per job.
Some businesses that are familiar to YES! Weekly readers are on the list.
The Porch Kitchen & Cantina, owned by Claire Calvin, received a loan for $60,000 in fiscal year 2013-2014. Roller Family Beer Works, owned by Eric Swaim and Eric Weyer — like the Porch located in the new West End Millworks — received a loan for $35,000 the previous year. A third tenant of the complex, West End Mill Works, owned by Suzy McCalley and Emily Stewart, received a loan for $55,000.
Small Batch Beer Co., another craft beer maker, also received a $50,000 loan in FY 2012-2013.
Camino Bakery, owned by Cary Clifford, received a $24,845 loan in FY 2011-2012 and currently owes $24,384.
The city loaned Ziggy's (partially owned by YES! Weekly publisher Charles Womack) $50,000 in FY 2010-2011. The borrower currently owes $49,923.
FTE jobs created by recent loan recipients:
25th Street Grill — 3
Fourth Street Kabobs — 5
S2dio Supplies — 1
NuEvo Hair Studio — 4
The Porch Kitchen & Cantina — 6
Roller Family Beer Works — 8
The Breathing Room — 5
Toddler Tech — 10
Small Batch Beer Co. — 6
Cin Cin Restaurant — 10
Camino Bakery — 8
Kelly's Learning Center — 10
Ogburn Station Store — 8
Ziggy's — 12