Healthy Heart Food Service, Inc.
Brothers Daniel and Jonathan Spira, owners of Healthy Heart Food Service and Healthy Heart Hospitality, saw an opportunity they wanted to seize and NYBDC helped them accomplish that goal in nearly record time.
Presented with the chance to buy the Brooklyn building their meal preparation and delivery service is located in, they knew it would be a way to ensure the long-term operation at the location and to retain the value of the leasehold improvements they had made. At the same time, the Spiras were planning to expand into the production of kosher meals.
Healthy Heart has had a long-time relationship with JP Morgan Chase Bank and when Chase’s Hilda Kong heard of their plans, she referred Daniel and Jonathan to NYBDC right away.
“The SBA 504 loan program was ideal for the Spiras, as it provided 90 percent financing for them to purchase their warehouse from their landlord, which allowed them to preserve needed working capital to expand their business and to create jobs,” said Linda Zou, the NYBDC vice president who handled the financing.
Healthy Heart provides nutritious and flavorful meals for Meals on Wheels for homebound senior citizens; healthy congregate meals for senior centers, social and medical day care centers, and adult day care facilities; nutritious meals for public and private school lunches; and corporate catering. During a typical week, Healthy Heart produces 40,000 to 45,000 meals.
With only six weeks until the closing date, the application process for the 504 loan had to be moved along quickly. Zou and Chase Vice President Luis Trujillo made sure that happened and ultimately put together a financing package with 50 percent of the project costs funded by JP Morgan Chase and 40 percent funded by Empire State CDC: The 504 Company.
“The experience was definitely a very positive one,” said Daniel Spira. “Following a visit to our facility, everything moved right along and was in place for the closing.”
“Healthy Heart Food Services is an outstanding organization that impacts the community in a very meaningful and positive way. Chase is proud to have partnered with the NYBDC to make this exciting project happen and to be Healthy Heart’s bank,” said Trujillo.
When Healthy Heart’s kosher facility begins operations, the total number of new jobs created as a result of the expansion will be approximately 20, according to Daniel. And the business opportunities are falling into place – Healthy Heart already has commitments from several organizations that are anxious to purchase the kosher meals.