West Virginia Family Opens Doors to Worker-Owned Restaurant with Help of CDFI
Client: Cameron and Octavia Cordon, owners of Phat Daddy's on Da Tracks
Client Location: Charleston, WV
CDFI: Seed Commons
CDFI Service Area: National
- Financing and technical assistance, with support from the Grow with Google Small Business Fund and Google.org Grant Program
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.”