Schastea tearoom and creperie started with a vision of having an exotic and magical experience, just around the corner. Entrepreneurs Tony and Olga Lopez have created a minimalist zen-space where guests feel transported while enjoying a wide variety of teas, beers, wines, and cocktails. There is also an ample selection of savory and sweet crepes, as well as baked goods and salads. Musicians play regularly at Schastea on Friday nights. Early on in the process, owner Tony came to RISBDC business counselors Josh Daly and Manuel Batlle for help mapping out a solid business plan and financial projections in order to secure financing.  The resulting loan helped Schastea (formerly The Elephant Room) purchase needed equipment and expand in its original location in the historic Pawtuxet Village of Cranston.

And now, Schastea is expanding again to a second location in Providence. For this development, the RISBDC again helped Tony assemble complete and accurate financial projections that helped him secure a $140,000 loan from Coastway Community Bank. The RISBDC has been “a huge aid in starting and expanding our business,” said Tony. “With their assistance, we have been able to project realistic figures and set attainable goals.”

Congratulations on your loan, Schastea, and we can’t wait to have a cup of tea in Providence with you!