‘Close to perfect’ financing package helped Old 10 open new Bismarck location

When it opened in August 2019, it did not take long for Old 10 Bar & Grill to become one of the most popular eating establishments in the Bismarck-Mandan area. Prominently located on Mandan’s Main Street, Old 10 became a go-to place for quick lunch, a family dinner out, and a great atmosphere to watch a game while sipping a brew. 

Then the COVD pandemic hit. 

“When we opened Mandan, we clearly didn’t have a pandemic written into our business plan,” co-owner Curt Miller said.

“But if anything, it made us focus on the details more because the margins got smaller, the labor force was difficult, and we had to take a look at our business plan and just tighten up all the loose ends. And I think we’re better for it.”

The readjusted approach was critical to Old 10’s ability to survive the pandemic, where other bars and restaurants – including popular ones – did not. 

In fact, Old 10 did more than survive. It thrived and opened a second location in Bismarck last year.

Like it did in 2019, in helping finance its Mandan location, Lewis & Clark Development Group played a role in making the new bar and restaurant a reality.

“We worked with Starion Bank to put a close-to-perfect finance package for Old 10,” says Derrick Becker, LCD Group loan officer.

“We were able to apply the SBA 504 Loan to finance the purchase of the land and building construction. Then, through the CARES Act Revolving Loan Fund, we were able to finance the community match portion for the Flex PACE buydown program. It all fit together.” 

Both Old 10 locations are open daily from 11:00 AM to 11:00 PM. The Bismarck location is at 4100 North Washington Street and has two sections to accommodate families and bar patrons. 

Most importantly, for its loyal customers – both longstanding and new – Old 10’s new location features the same great atmosphere and food that made it so popular to begin with and brought people back after the pandemic. 

Click here to learn more about LCD Group’s small business loan programs.

Sources and Credits: KX News Business Beat; Old 10 Bismarck Facebook page.

 

 

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