Saigon Asian Market

The Community Loan Fund's timely business financing helped the owners of Saigon Asian Market build a new store.

The Ho and Nguyen families bought an ethnic food market in Manchester in 2002 and soon expanded it and opened a second location in Nashua. In 2013, their Manchester landlord unexpectedly declined to renew their lease, forcing the couples to reconsider their business’s long-term path. They decided to build a large new store in Manchester, which would consolidate their operations and serve the diverse ethnic groups in the city and throughout the region.

The obstacle

Saigon Asian Market obtained a bank loan to purchase the land, but when unanticipated construction costs threatened to snag the project, their architect referred the couples to the Community Loan Fund.

Why the Community Loan Fund made the loan

Saigon Asian Market had years of solid financial performance and a proven regional following. We also believed in the bank lender’s flexibility and willingness to work with the couples as they opened the new location.

The result

We made the loan and Saigon Asian Market finished the construction. The new market opened to rave reviews from its loyal customers and the community.

Links

Annual Report story: A construction loan puts Asian market back in business

Saigon Asian Market's Facebook page

New Hampshire Union Leader article: After hiatus, Saigon Asian Market is back in business