ARKADELPHIA, Ark., Nov. 8, 2013 (GLOBE NEWSWIRE) -- Joshua and Shelley Hughes know a thing or two about coffee shops. The two have been operating a coffee house and eatery in Hot Springs, Arkansas since 2009. Demand for their coffee and food drove them to open a second location in Mrs. Hughes' hometown of Arkadelphia, Arkansas.
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They celebrated the grand opening of their restaurant yesterday with Arkadelphia Mayor Chuck Hollingshead, Arkansas State Senator Richard Womack, and representatives from Southern Bancorp and the Federal Home Loan Bank of Dallas (FHLB Dallas), which provided the couple a small business grant and loan to help with start-up costs at their new location.
JavaPrimo is an exciting concept that offers not only coffee, but desserts, Italian gelato, smoothies, and a vast food menu including eggs benedict and steak.
"When we opened in Hot Springs, we had a lot of customers from Arkadelphia," Mrs. Hughes said. "I can't tell you how many students would get in their cars and drive for miles to get to JavaPrimo."
Mrs. Hughes said she and her husband had been looking the past year and a half for opportunities to expand their business, so when a building became available in historic, downtown Arkadelphia the couple jumped at it.
With the assistance of a small business loan from Southern Bancorp, which was funded by a low-cost Economic Development Program (EDP) advance from FHLB Dallas, and a $25,000 EDPPlus grant from FHLB Dallas, Mr. and Mrs. Hughes were able to purchase and renovate the 1890s-era building.
They tore out rotten floors, added interior walls, repaired damaged brick, and installed a new roof, as well as new plumbing, sewer lines, and electrical wiring. "We basically started from scratch. We modernized the location," Mr. Hughes said.
EDPPlus grants are noncompetitive and available on a first-come, first-served basis to promote and enhance small business development and job creation. In 2013, FHLB Dallas made $1 million in EDPPlus grant funds available through member institutions.
Southern Bancorp has utilized EDP advances and EDPPlus grants on several occasions, and believed Mr. and Mrs. Hughes were a good example of why the EDP was established, said David Wooldridge, city president at Southern Bancorp.
"We saw what they were doing in downtown Arkadelphia to revitalize the area and thought they would be a good fit for the program," Mr. Wooldridge said. "They opened up their first restaurant here in Hot Springs, Arkansas, and have now expanded to this second location in Arkadelphia. Shelley is a CPA, and she's traded in her CPA license for an apron. The dedication to a dream they had, and our commitment to helping a local business made it a good fit for the program and a feel good story for the city."
Mayor Hollingshead is thrilled to have a new business in Arkadelphia's downtown.
"We're very happy to have JavaPrimo Coffee House in Arkadelphia," he said. "It is not only a unique coffee shop, but also a great restaurant and addition to our downtown. We applaud Southern Bancorp and FHLB Dallas for providing assistance in bringing this establishment to our downtown, and we look forward to more revitalization of this area."
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $31.3 billion as of September 30, 2013, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
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