Maria Rondeau

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Restaurant Owner Stays on Growth Trajectory

What inspired Maria Rondeau to get into the restaurant business? It was a true love of entertaining, hosting, and sharing her husband JuanMa Calderón’s talent and passion for cooking his native Peruvian cuisine. So in 2018 the couple made the leap and opened their first restaurant, Celeste, in Somerville, Massachusetts.

But Maria, who serves as the full owner and sole proprietor of her business, Area Celeste LLC, will be the first to admit that experience in the restaurant industry played no part. “I’m an architect by training and JuanMa is a filmmaker, so we opened this restaurant just because this was something we loved to do.”

Celeste was small, with just 24 seats when it opened. But it quickly made a big mark on the local food scene. “It immediately took off,” recalls Maria. Indeed, it became a neighborhood favorite, garnering several awards and even received a James Beard nomination.

With the arrival of the pandemic, the restaurant pivoted to takeout, catering to local hospitals, and outdoor seating that doubled and then tripled its seating capacity. “We rose to the occasion and actually grew during Covid.”

Expanding During a Pandemic

Then about a year into the pandemic they decided to open a second restaurant, La Royal, with a new, more experimental menu in an airy new space in Cambridge. “And this is where American Express^® Business Line of Credit¹ really worked beautifully for us.”

The business had been an American Express^® Member since its inception and it was just at this time that Maria was contacted by her American Express representative to tell her about American Express^® Business Line of Credit. “I thought this would be an excellent way to have access to cash, just in case—a good safety belt.”

Maria applied online in minutes² and within a few days was approved for a line of credit.

American Express^® Business Line of Credit Helps Them Build

“I truly didn’t intend to use American Express^® Business Line of Credit unless I really needed it. But with Covid, things were crazy with construction delays at La Royal, and our costs started to go higher than we expected.”

“I knew we just needed to get over that hump, finish furnishing, and all those little things,” she recalls. “My plan was to access very short-term funding and then pay it down to zero. Which is exactly what we did—I was very happy how it worked out.”

Maria says she was especially appreciative of the flexibility and competitive terms American Express offered. “It was perfect for me—I could access funding when I wanted and pay it off entirely if I wanted, without prepayment fees. It was the best of both worlds.”

Saving Interest in a Rising Rate Environment

In the meantime, Maria saw another opportunity with American Express^® Business Line of Credit. With rising interest rates, some of her costs nearly doubled which caused concerning cash flow issues for her business. By this time her American Express Business Line of Credit limit had also increased. “ That allowed me to draw again from my American Express line of credit to help alleviate the challenge I faced, giving me more time and peace of mind. Now I’m very comfortable, knowing I can budget costs overtime and repay the loan in time.”

Maria says that for her, the line of credit is a long-term tool. “It’s allowed me to have access to money that I can use immediately to make things grow,” she says. “For example, there’s a cost to adding a deck to the restaurant, but I know I’ll be able to pay back the loan because I generate much more revenue with those extra 20 seats. American Express gives me short-term capital that produces long-term effects, that’s what I like about it.”

The bottom line for Maria? “It helped us grow in the best possible way—we’re very grateful for that.”

Story Footnotes

¹American Express® Business Line of Credit

American Express® Business Line of Credit offers access to a commercial line of credit ranging from $2,000 to $250,000; however, you may be eligible for a larger line of credit based on our evaluation of your business. Each draw on the line of credit will result in either a separate installment loan or a single repayment loan. All loans are subject to credit approval and are secured by business assets. Every loan requires a personal guarantee. For single repayment loans, we charge a total loan fee that ranges from 0.95%-1.80% of the amount you borrow for 1-month loans, 1.90%-3.75% for 2-month loans, and 2.85%-6.05% for 3- month loans.  Single repayment loans incur a loan fee at origination and the principal and total loan fee are due and payable at loan maturity.  There are no required monthly repayments for a single repayment loan.  Repaying a single repayment loan early will not reduce the loan fee we charge you. For installment loans, we charge a total loan fee that ranges from 3-9% of the amount you borrow for 6-month loans, 6-18% for 12-month loans, 9-27% for 18-month loans, and 12-18% for 24-month loans. Installment loans incur a portion of the total loan fee for each month you have an outstanding balance. If you repay the total of the principal of an installment loan early, you will not be required to pay loan fees that have not posted for subsequent months. For each loan that you take, you will see the applicable loan fee before you take the loan. Once you take the loan, the loan fees that apply to that loan do not change.  We reserve the right to change the loan fees that we offer you for new loans at any time.  American Express reserves the right to offer promotions to reduce or waive loan fees from time to time. Not all customers will be eligible for the lowest loan fee. Not all loan term lengths are available to all customers. Eligibility is based on creditworthiness and other factors. Not all industries are eligible for
American Express® Business Line of Credit. Pricing and line of credit decisions are based on the overall financial profile of you and your business, including history with American Express and other financial institutions, credit history, and other factors.  Lines of credit are subject to periodic review and may change or be suspended, accompanied with or without an account closure. Late fees may be assessed. Loans are issued by American Express National Bank. 

Single repayment loans may become available to eligible new and existing Business Line of Credit customers at different times.   

If you elect to have your loan funds disbursed directly to a third party payee, you are required to provide accurate and complete payee information. Payees must be located in the US or US territories. The per transaction payee payment maximum is the lesser of your then available line of credit and $100,000. Not all payee industry types are eligible. We may refuse a payee in our discretion or for reasons beyond our control. Loan funds sent to your payee may take up to three (3) banking days to post to the payee’s business bank account, although payments may be delayed for a number of reasons and the payee’s bank may have their own policy regarding how quickly to post a payment.

²If eligible, you can be approved in minutes for a line of credit from $2,000 to $250,000 when we are able to automatically obtain your business data and verify your bank account. If a manual review is required, it will take longer to provide you with a decision.

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