Stuart Anderson and Andrea Mann stand below the tall timber Rusty Spur sign that tells Lumby the beloved farm, feed and pet store has proudly opened the doors to a new home on Shuswap Avenue.
Customers honk and wave as they pass and pull into the parking lot so they can shop for animal feed and supplies in a building that’s nearly five times bigger than the previous location.
“We outgrew our previous space and when we found this building, we saw it as a huge opportunity for future growth,” says Stuart. He and his wife Andrea have co-owned the Lumby store for over four of its 19 years at the original Highway 6 location with the iconic horse statue outside.
The building they came upon is 6,500 square feet, has parking for nearly 30 vehicles and is easily accessible for delivery trucks. The couple could see what a difference it would make for their customers if they could expand the breadth and variety of their stock—but how would they buy the building and have enough capital to invest in more inventory?
“We were able to cover a large portion of the mortgage through a traditional lender and hoped Community Futures would be able to support the loan for the rest,” says Stuart.
Scot McNair, business analyst at Community Futures North Okanagan, stepped in to support the Rusty Spur loans application.
“To have Scot behind us through the process meant we had someone looking out for us and guide us through the process, and he was there to bounce off ideas and questions.”
As is common with commercial property transactions, complexities presented themselves with easements and environmental conditions—several of which were flagged by Scot and navigated by a team of professionals including a lawyer, real estate agent, primary lender and others. CF North Okanagan covered some of those transactions and when the environmental assessments came back clean:
“We all had peace of mind and we knew we were making the right decision. We feel very fortunate that we were able to benefit from their consultative nature, expertise and focus on supporting a growing business in this community.”
Nearly two years after the idea to buy a building came to the Rusty Spur owners, the new location opened in August. They opened their Enderby store 2021 and also operate their online store. In both communities, Rusty Spur has become a community hub for small farmers, hobby farmers, and pet owners.
Not far from the big new sign, Stuart and Andrea will create a pond, gazebo and picnic tables as a casual community gathering space and watering hole for dogs.
“This is reflective of our dedication the community,” says Stuart, adding that none of it would have been possible without Scot, Leigha Horsfield and the loans committee at Community Futures North Okanagan.
“We’re so thankful they believed in us.”
Ready to grow your business? Learn how our business loans and resources can help you reach your goals. https://www.futuresbc.com/