Community Favorite Red Rock Grill & Bar Finds New Life Under New Ownership

When local business owner Stela Kourkouliotis found herself at a career crossroads, Red Rock Grill & Bar seemed like the perfect opportunity to return to her family’s restaurateur roots.

After over ten years of serving the Upton community, Red Rock’s original owners, Russ and Sherry Berger, were ready to pass the torch. Stela, a local who spent years working at different restaurants, seemed like the perfect fit.

“I wasn’t in the market to purchase a restaurant,” Stela said. “But a friend of mine knew Red Rock was for sale and that the owners wanted the right buyer. They weren’t just looking for anyone. I met and started talking with them, and said, ‘It’s time for a change.’ I have it in me; I love the people.”

Stela turned to Rockland Trust for help to make the transition a reality.

How to Buy a Business

The Road to Red Rock Ownership: SBA Loans

To purchase and acquire the restaurant, Stela knew she needed a financial partner she could trust. A mutual friend introduced her to Elyson dos Santos, VP of Business Development at Rockland Trust, as someone who could guide her through the process. It was with Elyson’s support that Stela identified the Small Business Administration (SBA) lending program as the right solution.

Stela applied and was approved for an SBA 7(a) loan for non-real estate, allowing her to acquire the business entity. A separate SBA 504 loan, made in partnership with Cornerstone Realty Capital, enabled the purchase of the restaurant building.

Check out our helpful guide for the differences between an SBA 7(a) and SBA 504 loans

While these are two separate loans, the combination carries additional benefits, including longer fixed interest rates for loans for the purchase of the building. Because the SBA 504 loan is a partnership product with Cornerstone, it also only required a 10% down payment from Stela. Typical down payments can be as much as 30% in other instances.

Red Rock Stays Rooted in Community

Stela is already making plans to put her stamp on the business. Her guiding principle is to prioritize her customer’s feedback. This has informed her idea to bring back the popular pizza nights and introduce new specials and gluten-free options.

What she doesn’t want to change is the family-friendly atmosphere that has made the restaurant beloved by the community over the years. For example, a large outdoor space offers customers a place to enjoy outdoor sand volleyball, a patio, giant Adirondack chairs with unbeatable lakeside views.

“When you talk about bringing the community together, families can go there at the end of the day, throw the ball around, walk by the lake,” Elyson, a longtime fan of Red Rock, explained. “It helps bring people together and gives them a place to enjoy. Nowhere else in the area has that look and feel.”

That community, Stela said, is what makes the restaurant special. “Community is family,” she emphasized. “Customers feel like family because they’ve been coming here so long, and that’s how we want to keep it.”

Advice for Aspiring Small Business Owners

While she has plenty of work cut out for her, Stela is excited for the changes to come. In the meantime, she had a few words of advice for new or aspiring small business owners looking to make their own big moves.

“You need some patience, but you have to take things a day at a time,” she said. “You’re going to have situations that you don’t want to be dealing with. For the most part, you have to walk in and take it as it is. Be positive. Things always work out.”

Starting or Purchasing a Small Business

Are you interested in acquiring or starting a business of your own? Rockland Trust is here to help, even if you don’t know where to start. Contact one of our business banking specialists to get started.