FEEDING THE VICTIMS OF
HURRICANE KATRINA

Vanelli’s Greek & Italian Restaurant
Tupelo, Miss.

Situation:

In 2005, when thousands of Mississippi residents fled north to escape Hurricane Katrina’s devastation, Vasilios Kapenekas, the owner of Vanelli’s Greek & Italian Restaurant in Tupelo, Mississippi, took it upon himself to serve more than 3,500 free meals—at an average cost to himself of $15 per meal.

His charity and commitment to the Mississippi community represents an essential element of rebuilding of the Gulf Coast. However, Kapenekas’ generosity negatively affected the restaurant’s finances, and a short-term loan further drained vital cash from the business.

Solution:

Thanks to a long-term loan of $586,250 provided by the Southern Development Council and CRF, Kapenekas received the capital he needed to restructure his debt.

Benefit:

The loan enabled Kapenekas to keep his restaurant open (a fixture since 1978), maintain jobs, and meet his humanitarian commitments, which continue to inspire residents during the rebuilding process.