Fortune Favors Makes Sweet Success with Multiple SBA Products

Situation

Fortune Favors started as a jest between co-founders Eric Rupert and Jessica Benish when they were working at another firm.  Eric, a career chef, decided to make the lightly caramelized pecans more than a dream, left that job, and invited Jess to join him. They opened their first retail location in 2018 and sales took off.  Sam McDaniel joined the team in 2019. To manage their growth, they consulted with the Small Business Development Center at UW-Madison—a partnership that drove success and helped the team re-strategize when the pandemic forced them to close their storefront in March 2020.

Solution

Sales grew by 1000% when they moved them online out of necessity, with the team using SBA COVID EIDL and PPP loans to help manage the change.  Growth has continued thanks to online and wholesale clients.  Traditional SBA loan products are financing this, including a line of credit to purchase inventory, an SBA 504 loan for a plant and building, and a 7(a) working capital loan to manage the highly seasonal nature of sales and business.

Impact 

Eric considers the lightly carmelized pecans he developed to be the pinnacle of his career, and the company’s $1 million success has proven that.  Their relationship with the SBDC is ongoing and has been important as they have grown and developed the company.   Fortune Favor’s management team donates their time to local food pantries and arts organizations; they source product from New Communities, a Georgia consortium of Black-owned farms.  Eric, Jess, and Sam were selected by the SBA as the SBA Wisconsin National Small Business Week Small Businesspersons of the Year for 2024.