Client: Langosta Lounge
Client Location: Asbury Park, NJ
CDFI: New Jersey Community Capital
CDFI Service Area: FL, NJ, NY
Slammed by Superstorm Sandy, Langosta Lounge was emblematic of the damage wrought by the storm and how natural disasters can ripple through tourist-driven economies.
“Our vendors, the cleaning people, the staff―they all suffered,” said Marilyn Schlossbach, who owns Langosta, an Asbury Park establishment with a quirkiness that includes an eclectic menu offering sushi alongside fried pickles and “creative libations” like The Dark and Stormy, a mixture of rum and ginger beer.
When emergency aid to the region stalled, Schlossbach turned to New Brunswick-based New Jersey Community Capital (NJCC), a CDFI that responded quickly with a $30,000 loan to help Langosta repair damages, replenish supplies, and pay operating costs. She also re-hired staff, who were personally rebuilding from the storm.
The financing was part of a larger Sandy-recovery effort by NJCC called REBUILD New Jersey, and it helped Langosta get back on its feet rapidly―and in time for tourist season. As Langosta Lounge awaited federal aid, New Jersey Community Capital stepped up.