With a loan from LISC, the Nottinghams were able to fix their long-term facility costs at a reasonable rate, create new jobs in the neighborhood, and help bolster the commercial viability of the surrounding community.
Above: Manager of Foundry Provisions, Kimmie Burton, outside the cafe.
A licensed real estate broker for several years, Mark Nottingham decided to partner with his brother, Joshua, to open their own real estate brokerage firm, Nottingham Realty. The Nottingham brothers found the perfect property to house their business in Indianapolis’ Herron-Morton neighborhood: a historic, 100-year-old building that had sat vacant and in disrepair for many years but had great potential. The property had room to house Nottingham Realty and additional commercial space where the brothers hoped to open a café. Mark and Josh just needed affordable financing to help purchase the property and get their new ventures up and running.
LISC put together an SBA 504 financing packaging that allowed the Nottinghams to purchase and rehab the property, creating space for both their real estate brokerage firm and a new café called Foundry Provisions. Foundry Provisions Café draws in artists, students, nearby workers, and residents with its coffee, breakfast, and lunch offerings. With a loan from LISC, the Nottinghams were able to fix their long-term facility costs at a reasonable rate, create new jobs in the neighborhood, and help bolster the commercial viability of the surrounding community.