Customer Stories

“They were wonderful, patient and understanding. We also received business advisory services, which is very helpful for businesses at all levels.” 



Hilaire Moussougan, Owner


The Impact

  • Six jobs retained, with three more planned, in a low-income community with an unemployment rate of 17.6%.
  • Growth of a business owned by a person of color.
riverside

Riverside Shell

Hilaire Moussougan immigrated to the United States from West Africa in 1998.  As an employee of local auto shops, he honed his skills and worked his way up to lead technician. He always dreamed of owning his own shop, but his first attempt failed when three potential buyers drove the price up to a level that he could not afford. But, he didn’t give up.

In 2010, Moussougan was hired as the lead technician at Riverside Shell in Minneapolis, a gas station with three service bays. In 2013, Moussougan continued to pursue his dream when he bought 50% of the station.

In 2016, Moussougan had an opportunity to buy out his partner, which would allow him and his wife Renee to become sole owners of Riverside Shell. When a local bank was unable to finance the purchase, they referred him to us.  

A Small Business Administration (SBA) loan would benefit Moussougan because of its longer terms and favorable rates, but he had additional needs that were ineligible under SBA. We were able to provide an SBA 7(a) loan and additional financing so he could consolidate existing debt, purchase the business, and make building improvements. “They were wonderful, patient and understanding” said Moussougan. “We also received business advisory services, which is very helpful for businesses at all levels.”