Small businesses are at the heart of every community. At Univest Bank and Trust Co., we have the privilege of working with local entrepreneurs. Whether they are starting a new business, growing their existing business or expanding to a new facility, we’re honored to be their partner and help on their journey to success. That’s why we’re highlighting a few of our small business customers. They discuss what inspired them to take the leap and start their own business, bumps they hit along the way and advice they have for other entrepreneurs.
Making Your Dreams a Reality
Lindsey Pete and Nick Gunderson always dreamed of opening a hostel and brewery. After Lindsey completed business school, that vision developed into the concept of pairing craft beer and wood-fired pizza. Their dream became a reality when they founded Chestnut Hill Brewing Company in 2016.
Like many small business owners, Lindsey and Nick ran into some challenges while getting the brewery off the ground. “We decided to start small so that we could prove our concept and so that we could create a project within our means,” said Lindsey. After being rejected twice, Nick and Lindsey found financing through Univest’s SBA lending program. With quick approvals and local decision makers, this program often provides financing for startup companies that may not fit the traditional requirements for a business loan.
They also had to get creative when creating the ideal space for their business. Nick was able to customize the equipment so they could maximize every square inch. Since Nick ran a concrete finishing business prior to opening the brewery, he poured all of the concrete which included designing and pouring their unique tap tower. In fact, when you look under the bar you’ll find Lindsey and Nick’s initials in the concrete.
As she reflected on the challenges of starting their business, Lindsey said, “Everyone says projects go over budget and over timeframe, but I thought we’d be the exception to this rule. I learned that there are no exceptions. Patience and persistence is the name of the game. The more planning and details you can do ahead of time, the smoother things will go.”
Through the process of navigating the challenges, the husband and wife team has learned how to work together. “We have complementary skill sets, but we had to mesh our different working styles and focus on each of our strengths,” explained Lindsey. She said they also make it a priority to take a break from work to focus on their relationship.
Their advice for others who want to start their own business: “Follow your passion! You will hit roadblocks and obstacles every day. You must keep your head high, which is easier to do when you’re passionate about what you’re doing.”
Lindsey added, “If you don’t take the risk, you’ll always wonder what could have been.”
You can visit Chestnut Hill Brewing Company for a local, modern twist on the classic pizza and beer combo in the MARKET at the FAREWAY which is located behind the Chestnut Hill Hotel.
Chestnut Hill Brewing Company
8221 Germantown Ave, Philadelphia, PA 19118
Univest Bank and Trust Co. is Member FDIC – Equal Opportunity and SBA Preferred Lender