Many people are aware that Krimmer’s Italianette Pizza has been a staple in the Silverton community for decades, but what they may not know is that the family owned restaurant recently utilized an SBA 504 loan to open a second location in North College Hill, and it is gorgeous (see photos below). The former vacant city owned building has been completely overhauled into a modern-industrial, yet comfortable, restaurant that boasts lofty ceilings, large flat screen TVs, historic local photography, seating for 190 people, and a private event space that can accommodate up to 80 people.
Krimmer’s Italianette had been a single location restaurant since 1985 when Fritz Krimmer and his mother, Shirley Krimmer, purchased “Italianette Pizza” and added their name to it, so adding a second location was a big step for the tenured restaurateurs. In order to secure financing for this project, Fritz and Shirley, along with Steve Krimmer, worked with First Financial Bank and Alloy Loan Officer Angie Howard to obtain an SBA 504 loan.
“The 504 loan was attractive to us because of the long-term fixed rate financing and low down payment,” said Fritz Krimmer.
The 504 loan program allows most borrowers to only put 10% down and finance 40% of the project at a fixed interest rate for a 20 year term.
Mr. Krimmer described the financing process as “easy and seamless,” noting that “Angie (Howard) was with us every step of the way.”
The North College Hill location has been up and running for a few months now, and things are going well. Whether you are a loyal fan of the original Silverton location or have never tried it, be sure to check out the new digs and enjoy a pizza. You will not be disappointed.