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Phat Daddy's, CDFI client
21st
May
2022
Charleston, WV

West Virginia Family Opens Doors to Worker-Owned Restaurant with Help of CDFI

May 21, 2022

Client: Cameron and Octavia Cordon, owners of Phat Daddy's on Da Tracks

Client Location: Charleston, WV

CDFI: Seed Commons

CDFI Service Area: National

CDFI Services Provided: 
  • Financing and technical assistance, with support from the Grow with Google Small Business Fund and Google.org Grant Program

Financial and Social Impact

  • Black-owned, cooperative business able to start up and help its employee-owners build wealth

When Cameron Cordon, a chef of more than 20 years, was laid off due to COVID-19’s impact on indoor dining, he and his wife Octavia and daughter Azelah decided it was time to start a restaurant of their own. They tried three times for a business grant through the city of Charleston, WV — but to no avail. When the Cordons connected with New Economy Works (NEW) West Virginia, a peer member of Seed Commons, they found support with developing a sustainable business plan, a set of five-year projections, a marketing and operational plan, and a break-even model to guide the business forward.

After many months of hard work, the Cordon’s Phat Daddy’s on Da Tracks restaurant was approved for an investment from Seed Commons and they hosted their grand opening just a few months later. The family-led, worker-owned restaurant now employs five people and is the first worker-owned cooperative in Charleston.

“Without our Seed Commons network, it’s hard to say whether or not meaningful access to business capital and technical assistance would be available to people like Cameron, Octavia, and Azelah,” says Mavery Davis, Director of Lending, New Economy Works West Virginia. “We are part of a dedicated business development network that is keenly invested in the individual growth of worker-owners as well as the businesses they pursue.”

Tags: Cooperative, COVID-19, Entrepreneur of Color, Google.org Grant Program, Grow with Google Small Business Fund, Small Business, Technical Assistance

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