Group of friends toasting with glasses of red wine
Group of friends toasting with glasses of red wine

Complex wines and robust banking

Business banking supports West Central Wine through start-up years, a pandemic, and recovery

Overview

Running a small business in the food industry is always challenging, and even more so in the years after the coronavirus pandemic. Monica Nenni, founder and owner of West Central Wine in Middletown, Ohio, navigated the obstacles, made difficult decisions, and discovered strategies to encourage growth, all with the support of her First Financial Business Banker.

The Problem

When Monica Nenni moved back to Middletown for family, she looked for an opportunity to combine her communications degree, restaurant experience, and passion for culinary arts. When it didn’t appear on its own, she created it. Monica did her research, wrote a business plan, and launched West Central Wine. Considered a “wine destination” in downtown Middletown, it offers a full-service bar in addition to a wine shop and retail shop.

“I designed it to be approachable to Middletown’s rural working-class demographic,” describes Nenni. “I remember from a very young age, wine at the dinner table being enjoyed in a casual setting. I really wanted to capture that.”

The restaurant business is always a tumultuous one, and the 2020 coronavirus pandemic made it even more so. Nenni credits her Business Bankers at First Financial Bank for how she has weathered the many obstacles her business has faced over the past few years.

Banking with First Financial

It was never a question who Nenni would bank with for her business. Nenni’s father and his small business used First Financial, and it was Nenni’s first bank account when she started her first job. In fact, West Central Wine started thanks to a microloan program run through a collaboration between First Financial Bank and a non-profit dedicated to revitalizing the historic Middletown city center.

That microloan really helped us get our foot in the door and provide proof to our investors — First Financial decided to invest in us, the Main Street Program decided to invest in us — that was a big deal.

West Central Wine saw consistent growth through the first four years, so much so that the microloan was paid back in the first three. It was more than just a place to purchase wine — they offered tastings, and a full bar with an assortment of house made snacks and charcuterie. Growth was projected to continue, and Nenni prepared to open a second restaurant in downtown Middletown. But then came the pandemic. The wine market did not have a full kitchen or patio, so Nenni had to pivot to focus on only retail sales. Thankfully, it had been in operation long enough to qualify for PPP loans. With support from her banker, Nenni was able to navigate the application process and stabilize the wine shop. They even managed to move forward and open Bandanas Eatery in September of 2020. The restaurant offered fresh, homemade Italian fare in a quirky, Cowboy-Western-styled space.

In an industry full of ups and downs and unpredictability, Nenni appreciates that her banker periodically checks in on her. Thanks to the ongoing support, Bandanas enjoyed nearly four successful years. In early 2024, however, Nenni made the difficult decision to close the restaurant. “I think sometimes when you see the success stories of businesses, you don’t always hear about the challenges, and I think it’s important that people hear about the challenges,” she shared. “The food industry is a difficult business to be in, and the cost made me fearful I would need to close the wine bar, which was my first love.”

One month after closing the restaurant, West Central Wine’s main cooler failed — a large, unexpected cost to face with the expenses involved in closing a business. Again, the resource of a Business Banker made all the difference. Nenni had always assumed that she needed to personally loan her businesses money in difficult times, and she was fearful of depleting her personal savings. Fortunately, her banker was able to look at the financial situation holistically and issue a reasonable line of credit.

Nenni is grateful to have someone looking for creative solutions and feels confident heading into the future. With the new cooler up and running, the equipment loan on track, and a line of credit to provide a cushion as the business naturally ebbs and flows, Nenni feels a strong sense of security in her business’s future.

“First Financial has always provided me with a personalized experience for both my business and my personal banking needs,” she says. “I think there’s something to be said that I’ve never encountered a situation that couldn’t be resolved by First Financial Bank.”