Jun 27, 2024 • Pamela Garcia
Like any journey, there have been ups and downs along the way. After opening the first Miguelito’s location in Crystal City, and running it successfully, the couple set their sights on a new objective. That lead them to Minnesota, where the couple sought to fill a need in the area for authentic Tex-Mex cuisine. However, they quickly found out that running two businesses with such a vast distance between each other was extremely difficult. They had to make the tough decision to cut their losses in Minnesota and move back to Texas to focus on the Crystal City location.
Times were tough. At that point, the couple “could have filed for bankruptcy” but, as Monica said, “we knew that we wanted to grow our business and that was not the way to go.” What was the right way to go? First, they worked to pay off all the debt accrued from their business venture in Minnesota.
With the revamped success of the Crystal City location, again the Contreras’ looked to expand, this time in the neighboring city of Carrizo Springs. Like any business, there are many different moving parts to getting a restaurant to open, and that comes with a high demand for capital. They sought out the aid of Mr. Manuel Estrada, a member of the Neighborhood Housing Services (NHS), in Carrizo Springs. Mr. Estrada was instrumental in the successful launch of their first location in Crystal City by providing necessary financial support. However, the funding needed to help get this location launched exceeded what he could provide for them.
Enter Ms. Rosa Rios Valdez, who is a president and CEO of BCL. Mr. Estrada introduced the couple to Ms. Valdez, and with her help, they were able to secure the necessary funding to successfully launch their Carrizo Springs location.
That was about 12 years ago. Both the Crystal City and the Carrizo Springs locations are still successful, even without their direct supervision. Now, the couple has their eyes set on San Antonio and being able to lay down roots here. Again, the need for an additional lender was required to help seal the deal. Though this time, they knew exactly who to contact, BCL. At a time where “everybody is shying away from restaurants because they have such a high percentage of failure” BCL has been a model of consistency for them. When asked why they thought that was, Monica replied “the food part of it is one business and the operation is another… and then there’s the business side of it…BCL has always understood that and understood us”.
The couple understand that running a business is not for the faint of heart. “You have to be a little crazy.” For those willing to take on the challenge, Monica urges aspiring entrepreneurs and business owners alike to seek out BCL, do the necessary research and come up with a strong business plan. Beware, however, “Ms. Valdez is going to dissect it, but it’s good because everything she brings up is going to have to be dealt with.”
Following the launch of their first location in San Antonio, the Contreras’ plan on expanding with about two or three more locations in the city. Monica is grateful to BCL, “who helped us keep the doors open during COVID,” and she knows that with their continued support and that of her husband, Miguel, who is the “heart and soul” of the restaurant, Miguelito’s has great things ahead of it.
