Quesadilla Gorilla finds creative way to get financing help during pandemic

VISALIA, Calif. (KFSN) -- It has been a rollercoaster of a year for Quesadilla Gorilla owner Miguel Reyes.

"It was just like I think we're done. A month later, it was a different story government funding kind of came in and definitely helped," said Reyes.

Reyes and his wife started the restaurant in Visalia in 2013.

This past year they added new locations in Hanford and Three Rivers.

To keep their dream going, they decided to get creative and to reach out to the community to invest in them.

"Instead of borrowing money from the bank, we're borrowing from our communities, so our community is able to invest in us and buy bonds. We're selling bonds in our company, which is a pretty common theme for these big businesses," he said. "They do it all the time to raise funds."

Reyes is partnering with SMBX for the investment opportunity.

He says the interest rate is higher than an average savings account.

"We're doing a five-year term at a six percent interest, so over the five-year period, you actually receive 16% return on your money," Reyes said.

People can invest a minimum of ten dollars, and it goes up. Their goal is to raise $165,000. So far, they have raised $133,000.

"It's really cool to see who believes in our concept is not just us, it's the community," Reyes said.

The net proceeds will help them buy equipment and run their restaurants. The investment opportunity ends Friday night.

Investments like this are helping Quesadilla Gorilla grow. In fact, they're looking at little adding locations in Tulare, Clovis and possibly the coast.
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