SGRC Loan Program Assists The LOCAL at the Lankford in Tifton
Tuesday, March 5th, 2019
The LOCAL Kitchen + Bar is expanding with the purchase of The Lankford Manor with the help of the Southern Georgia Regional Commission (SGRC) and Commercial Banking Company (CBC).
The SGRC Loan Department partnered with CBC to put together an SBA 504 loan package for The LOCAL to purchase the property at The Lankford. The SGRC Loan Department, as a Certified Development Corporation with SBA, processed the loan application and secured an approval from the SBA to provide financing for 40 percent of the project at a fixed interest rate for 20 years. The additional proceeds for the project were provided by CBC. The project has created 12 jobs.
The LOCAL Kitchen + Bar is a hugely popular chef driven restaurant in downtown Tifton that has anchored a steadily growing customer base by creating an exceptional dining experience in the heart of downtown Main Street. Their success has triggered a need for a larger space but owners, Chef David Scarbrough and his wife Jennifer Mack, were adamant about staying in the downtown area and maintaining that connection with the community. This led to the purchasing of the historic landmark, The Lankford Manor located at 401 Love Avenue, Tifton, Ga.
With minor renovations, The LOCAL will double the capacity of its current dining room and add a large outdoor entertaining and seating area for private parties and live music, add The Lankford Bar and Lounge, and allow for The LOCAL Pantry, a retail space for local products. Renovations are under way at the new Love Avenue location and they hope to be open in the Spring of 2019.
The Local Kitchen + Bar is still open at their current location at 212 Main Street South, Tifton, Ga.