Marshall and Carol Bishop bought a nine-acre farm in Gilmanton, N.H., in 2006, so that Carol could raise Alpacas. Soon, Marshall began growing grapes and making wines, eventually opening a full winery and restaurant. The property is also the former homestead of Grace Metalious of Peyton Place fame, and it quickly became an attraction for locals and out-of-state visitors.
The Bishops bootstrapped all of their early business growth, but in 2015 decided to renovate the property to add a tasting room, serve more visitors and grow their wedding business. The Bishops worried that their cash flow wouldn’t be sufficient.
Why the Community Loan Fund made the loan
The Bishops’ well-regarded wine, strong reputation, and attention to financial details made us confident they could repay the loan.
We advanced the funds to Gilmanton Winery and the business has continued to grow. The restaurant is thriving and wine sales are going up. The Community Loan Fund also connected the Bishops with a consultant who helped them review and improve their financial systems and monitoring procedures, and manage their new revenue growth.