Opening an Old Chicago Pizza Taproom franchise is an exciting opportunity to join one of America's most recognized casual dining and craft beer concepts - but with total investment costs ranging from $1.4 million to $2.9 million, securing the right financing is critical. This guide covers everything you need to know about Old Chicago franchise loans, SBA financing, equipment funding, and how Crestmont Capital helps franchise owners get funded fast.
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Old Chicago Pizza Taproom is a full-service casual dining franchise known for its hand-crafted pizzas, broad menu of American comfort food, and extensive selection of craft beers on tap. Founded in 1976 in Boulder, Colorado, Old Chicago has grown into a beloved national brand with locations across the United States - particularly popular in the Midwest and Mountain West regions.
The concept centers on a lively taproom atmosphere that appeals to sports fans, families, and craft beer enthusiasts alike. Old Chicago locations typically feature 50 to 100 beers on tap, a World Beer Tour loyalty program that keeps customers returning, and a menu anchored by legendary Chicago-style deep-dish pizza alongside calzones, pasta, burgers, and shareables.
Old Chicago operates under the umbrella of CraftWorks Restaurants and Breweries, which also manages Gordon Biersch Brewery Restaurants and other hospitality brands. This corporate backing provides franchisees with strong operational support, national marketing, and an established supply chain - important advantages for anyone considering franchise ownership.
The brand has maintained a loyal following for nearly five decades and continues to expand through franchising, making it an attractive option for experienced restaurateurs and multi-unit operators looking to add a proven concept to their portfolio. However, the investment is significant, and most franchisees will need financing to make their Old Chicago location a reality.
For prospective owners researching how to fund their Old Chicago franchise, understanding the full scope of costs - and matching each cost to the right financing product - is the foundation of a successful business launch.
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Apply NowBefore securing financing, you need a clear picture of what an Old Chicago Pizza Taproom franchise actually costs. The total investment spans a wide range depending on location, building type, and regional construction costs. According to the Old Chicago Franchise Disclosure Document (FDD), here is a breakdown of the major startup expenses:
The initial franchise fee for an Old Chicago Pizza Taproom is $40,000. This one-time fee grants you the right to operate under the Old Chicago brand, access the company's systems, receive initial training, and use the proprietary menu and recipes. The franchise fee is due upon signing the franchise agreement and is typically paid from liquid cash reserves or a small business loan.
The total estimated investment to open an Old Chicago Pizza Taproom ranges from approximately $1,381,500 to $2,876,000. This wide range reflects differences in real estate costs (owned vs. leased), build-out scope, equipment specifications, and geographic market. Here is a breakdown of major cost categories:
| Cost Category | Low Estimate | High Estimate |
|---|---|---|
| Initial Franchise Fee | $40,000 | $40,000 |
| Leasehold Improvements / Build-Out | $600,000 | $1,500,000 |
| Equipment, Fixtures, and Furniture | $300,000 | $650,000 |
| Signage | $25,000 | $75,000 |
| Technology and POS Systems | $30,000 | $60,000 |
| Initial Inventory | $30,000 | $60,000 |
| Working Capital (3 months) | $150,000 | $300,000 |
| Training and Pre-Opening Expenses | $50,000 | $100,000 |
| Miscellaneous / Other Costs | $156,500 | $91,000 |
| Total Estimated Investment | ~$1,381,500 | ~$2,876,000 |
In addition to the startup costs above, Old Chicago franchisees pay ongoing fees throughout the life of their franchise agreement:
Old Chicago requires franchisees to meet specific financial thresholds before approval:
These requirements reflect the capital-intensive nature of the concept and the ongoing operational demands of running a full-service restaurant with a full bar program. If you have the experience and net worth but need help bridging the financing gap, a business lender like Crestmont Capital can structure the right loan solution for your situation.
Old Chicago franchise financing typically involves a combination of products because no single loan covers everything from build-out to working capital. Here is an in-depth look at the primary options available to franchise owners:
The SBA 7(a) loan program is the most popular financing vehicle for franchise purchases in the United States. Backed by the U.S. Small Business Administration, these loans offer:
For Old Chicago franchise financing, an SBA 7(a) loan is commonly used to cover the franchise fee, leasehold improvements, equipment, and initial working capital. Because the SBA guarantees a portion of the loan (up to 85% for loans under $150,000, and 75% for larger loans), lenders are more willing to extend credit to franchise businesses that might not qualify for conventional financing.
Old Chicago is a well-established brand with a track record of unit-level performance, which typically helps with SBA loan approvals. Lenders look favorably on franchises with strong Franchise Registry listings and proven FDD histories. Learn more about how SBA loans work at Crestmont Capital.
If you are purchasing or constructing a building for your Old Chicago location, the SBA 504 loan program may be a better fit. The 504 program is specifically designed for major fixed assets like commercial real estate and large equipment. Key features include:
The 504 program involves two lenders - a traditional bank covering 50% of the project, and a Certified Development Company (CDC) covering 40%, with the borrower contributing the remaining 10%. This structure makes it ideal for Old Chicago owners building new locations or purchasing existing restaurant real estate.
Restaurant equipment is one of the largest single cost categories in an Old Chicago build-out. Commercial pizza ovens, draft beer systems with 50-100 tap lines, walk-in coolers and freezers, commercial dishwashers, exhaust hoods, POS systems, and bar equipment collectively can cost $300,000 to $650,000 or more.
Equipment financing is a product where the equipment itself serves as collateral for the loan. Key benefits include:
Equipment financing is commonly used alongside an SBA loan - the SBA covers build-out and working capital while equipment financing addresses the specific hardware needed to operate.
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A business line of credit is a flexible revolving credit facility that gives Old Chicago franchise owners access to capital on demand. Unlike a term loan with a fixed disbursement, a line of credit lets you draw funds as needed - ideal for covering:
Lines of credit for established franchise businesses typically range from $25,000 to $500,000, with revolving terms that let you pay down and re-borrow as needed. Interest is charged only on the amount drawn, making it a cost-effective safety net.
The first 6 to 12 months after opening are often the most financially challenging for any restaurant franchise. Labor costs are high as you train staff, food costs may run elevated while your team perfects execution, and marketing spend is at its peak to drive awareness.
A working capital loan provides a lump sum to cover these early operational expenses. Terms typically range from 6 to 36 months, with daily, weekly, or monthly repayment options. For Old Chicago franchisees, working capital loans of $100,000 to $500,000 are common to bridge the gap between opening and reaching sustainable profitability.
Short-term business loans offer fast access to capital with repayment periods of 3 to 18 months. While rates are higher than SBA products, the speed and simplicity make them valuable for urgent needs - like a broken draft beer system right before a big sports weekend. Amounts typically range from $10,000 to $500,000 with approvals in as little as 24 hours.
Long-term business loans with 3 to 10-year terms provide the predictable monthly payments that work well for franchise build-outs and major capital investments. These loans are particularly useful for covering the leasehold improvement costs that are the single largest expense in an Old Chicago build-out.
Crestmont Capital is rated the #1 business lender in the United States, with a track record of funding thousands of restaurant and franchise businesses. Unlike traditional banks that focus on a single product, Crestmont Capital's team evaluates your complete financial picture and matches you with the right financing structure for your specific Old Chicago franchise scenario.
Here is what sets Crestmont Capital apart for franchise financing:
Our lending specialists understand the economics of casual dining franchises - food costs, labor ratios, build-out timelines, and typical ramp-up periods. When you apply for an Old Chicago franchise loan, you are working with advisors who speak the language of your industry and can advocate for your file with lenders who value franchise experience.
Crestmont Capital works with dozens of lenders including SBA-preferred banks, alternative lenders, equipment finance companies, and specialized franchise lenders. This means your application gets matched to the lender most likely to approve your specific profile - rather than being declined by one bank and left to start the process over.
Franchise timelines are often compressed. Landlords may have competing interest in a prime site. Your franchisor may have a development schedule to maintain. Crestmont Capital can pre-qualify you in 24 to 48 hours and move toward full approval on SBA loans in 30 to 60 days - significantly faster than traditional bank timelines of 90 to 120 days.
Most Old Chicago franchise owners do not fund their entire project with a single loan. Crestmont Capital specializes in structuring "stacked" financing - combining an SBA 7(a) loan for build-out and working capital with equipment financing for kitchen and bar assets, and a business line of credit for ongoing operational flexibility. This approach optimizes your monthly payment, minimizes your down payment, and maximizes the capital available at opening.
As Forbes notes, franchise loans often require specialized lenders who understand the franchise model - and Crestmont Capital is exactly that partner for Old Chicago aspirants.
For more on how franchise financing works end-to-end, see our Complete Franchise Business Loans Guide.
Lender requirements vary by product type, but here are the general qualification benchmarks for Old Chicago franchise financing:
Even if you do not meet all criteria above, do not count yourself out. Crestmont Capital works with a wide range of lenders and can often find solutions for franchise owners who have been declined elsewhere. Factors like strong industry experience, high net worth, or a co-borrower can compensate for a lower credit score or limited business history.
According to the U.S. Small Business Administration, franchise businesses historically have lower default rates than independent restaurants - which makes franchise financing more accessible than many applicants expect.
Applying for an Old Chicago franchise loan with Crestmont Capital follows a clear, straightforward process designed to minimize paperwork burden while maximizing approval speed.
Start by completing Crestmont Capital's online application. Provide basic information about yourself, your franchise plans, estimated project costs, and the financing amount you are seeking. No hard credit pull at this stage.
A Crestmont Capital franchise lending specialist reviews your application and pulls a soft credit inquiry. You will receive a pre-qualification overview showing likely loan products, estimated rates, and required documentation. This gives you a clear roadmap before any commitment.
Based on the loan products selected, you will provide supporting documents. Typical requirements include:
Crestmont Capital packages your complete file and presents it to the most suitable lenders from our network. For SBA loans, this involves formal underwriting. For alternative products, approval can come within days. You may receive multiple offers to compare.
Once you accept a loan offer, the closing process begins. SBA loans require more documentation and a government review period; alternative products can close in as little as 2 to 5 business days. Upon closing, funds are disbursed to your business account or paid directly to vendors and contractors.
From initial application to funded loan, the typical timeline for Old Chicago franchise financing is 30 to 60 days for SBA loans and 5 to 15 days for equipment and working capital products.
Understanding how franchise financing plays out in practice helps you plan your capital structure more effectively. Here are four representative scenarios for Old Chicago franchise owners:
Maria is a former restaurant general manager with 12 years of full-service dining experience and $350,000 in liquid savings. She wants to open her first Old Chicago in a new suburban development. Total project estimate: $1.8 million. She qualifies for an SBA 7(a) loan of $1.4 million (she contributes 20% down, approximately $360,000) plus a $300,000 equipment financing line for her bar and kitchen. Monthly SBA payment: approximately $9,500 over 10 years. Equipment payment: approximately $6,200 over 5 years. Combined monthly debt service: approximately $15,700 on projected revenue of $200,000 per month - a manageable 7.85% debt service ratio.
James already owns two successful QSR franchises generating $3.2 million annually in combined revenue. He wants to add an Old Chicago location to diversify his portfolio. Because of his operating track record, he qualifies for an SBA 504 loan with only 10% down on a build-to-suit location costing $2.3 million. He layers in a $250,000 business line of credit from Crestmont Capital for working capital flexibility. His existing restaurant cash flow helps support the debt service ratio, making approval straightforward.
David signed his Old Chicago franchise agreement and secured an SBA loan commitment, but his build-out contractor is 90 days ahead of schedule and he needs $200,000 immediately to pay for equipment deposits and early construction milestones before the SBA closes. Crestmont Capital structures a short-term bridge loan of $200,000 at favorable terms that is repaid from the SBA proceeds at close. David opens 3 months early and captures the prime spring dining season.
Tanya wants to buy an existing Old Chicago location from a retiring owner. The seller is asking $1.2 million for the business including all equipment and the lease assignment. An SBA 7(a) acquisition loan covers 80% ($960,000) and Tanya contributes $240,000 from personal savings. Because the location already has 8 years of operating history and positive cash flow, underwriting is more straightforward than a startup build. Crestmont Capital also secures a $100,000 revolving line of credit to give Tanya flexibility for remodeling and re-staffing during the ownership transition.
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Apply NowThe total investment to open an Old Chicago Pizza Taproom franchise ranges from approximately $1,381,500 to $2,876,000, according to the company's Franchise Disclosure Document. This includes the $40,000 franchise fee, leasehold improvements ($600,000 to $1,500,000), equipment and fixtures ($300,000 to $650,000), initial inventory, working capital, training costs, and other startup expenses. The exact amount depends on your market, whether you are building new or converting an existing space, and regional construction costs.
Yes. Old Chicago is an established franchise brand, and SBA 7(a) and SBA 504 loans are commonly used to finance these locations. SBA 7(a) loans offer up to $5 million with terms up to 10 years for working capital or 25 years for real estate, making them ideal for covering franchise fees, build-out costs, and startup working capital. Approval requires a credit score of 680 or higher, relevant industry experience, a business plan, and a 10% to 20% down payment. Crestmont Capital's SBA specialists can guide you through the entire process.
For SBA loans, most lenders require a personal credit score of 680 or higher. For equipment financing, some lenders approve applicants with scores as low as 600. For working capital loans and business lines of credit through alternative lenders, 580 or higher may be sufficient. Keep in mind that credit score is just one factor - lenders also weigh your industry experience, net worth, liquidity, and the strength of your business plan. A lower credit score can sometimes be offset by a larger down payment or a co-borrower with stronger credit.
Timelines vary by loan type. SBA 7(a) loans typically take 30 to 60 days from application to funding when working with an SBA-preferred lender like Crestmont Capital. Equipment financing can close in 5 to 10 business days. Working capital loans from alternative lenders can be approved and funded in 24 to 72 hours. For the best results, begin your financing application as early as possible - ideally when you sign your franchise agreement or letter of intent - so funds are available when your build-out is complete.
Old Chicago franchisees pay a royalty fee of 4% of gross sales, paid on a weekly basis. In addition, franchisees contribute 2% of gross sales to the brand's advertising and marketing fund. These ongoing fees are important to factor into your financial projections when calculating the monthly debt service your franchise can support. For a location generating $150,000 in monthly sales, royalty and advertising fees total $9,000 per month - a meaningful expense that should be modeled alongside your loan payments.
Restaurant experience is not legally required to obtain financing, but it is strongly preferred by both the franchisor and lenders. Old Chicago actively favors candidates with multi-unit restaurant experience. From a lending perspective, candidates with full-service dining management backgrounds receive more favorable underwriting terms because lenders view them as lower-risk borrowers. If you lack direct restaurant experience, partnering with an experienced operating partner - or hiring a seasoned GM - can strengthen both your franchise application and your loan approval odds.
Yes. The $40,000 Old Chicago franchise fee can be included in an SBA 7(a) loan. SBA loans can cover nearly all startup costs including the franchise fee, making them the most comprehensive financing solution for first-time franchise owners. However, because the franchise fee is often due at signing (before build-out begins), some franchisees pay it from personal funds and then reimburse themselves from SBA proceeds at closing. Discuss timing with your Crestmont Capital advisor to optimize your capital deployment.
For an SBA franchise loan, expect to provide: 2 to 3 years of personal and business tax returns, 3 to 6 months of bank statements, a personal financial statement, a signed franchise agreement or letter of intent from Old Chicago, a detailed business plan with 3-year financial projections, your resume highlighting relevant management and restaurant experience, real estate documents (signed lease or purchase agreement), and construction/equipment cost estimates. Crestmont Capital's team will guide you through each document requirement and help you prepare a compelling application package.
Old Chicago's FDD recommends having $150,000 to $300,000 in working capital reserves to cover the first three months of operations. In practice, most experienced restaurant operators recommend planning for 4 to 6 months of operating expenses in reserve, particularly for full-service concepts with significant labor costs. This accounts for slower-than-expected ramp-up, training inefficiencies, and unexpected equipment or facility issues. A business line of credit from Crestmont Capital can supplement your cash reserves and provide on-demand access to additional funds without paying interest until you draw.
Old Chicago has operated for nearly five decades, which speaks to the durability of the concept. Its combination of craft beer expertise, a broad food menu, and the World Beer Tour loyalty program creates strong customer engagement and repeat visits. The casual dining segment faces ongoing competition, but Old Chicago differentiates itself with its taproom identity and sports bar ambiance. As with any franchise, profitability depends on site selection, local competition, operational execution, and management quality. Prospective franchisees should carefully review the FDD including Item 19 (Financial Performance Representations) and consult with existing franchisees before making a commitment.
Yes - buying an existing Old Chicago location (a franchise resale or transfer) is a viable path that some investors prefer because it comes with established customer base, trained staff, and historical financial performance data. SBA 7(a) business acquisition loans are well-suited for this purpose, covering up to 90% of the purchase price in some cases. Crestmont Capital has extensive experience financing restaurant business acquisitions and can structure an SBA acquisition loan alongside working capital for your transition period. Acquisition financing often has faster underwriting than startup financing because of the available operating history.
Old Chicago requires prospective franchisees to demonstrate a minimum net worth of $3,000,000 and liquid capital of $1,000,000. These requirements are set by the franchisor to ensure operators have sufficient financial backing to weather the challenges of opening and operating a capital-intensive full-service restaurant. Your net worth calculation includes all personal assets minus liabilities - real estate equity, investment accounts, retirement savings (with some discounting), business interests, and other assets all count toward this threshold.
Old Chicago's training program involves approximately 331 hours of on-the-job training and 22.5 hours of classroom instruction, typically spanning four weeks at CraftWorks corporate headquarters and a designated training restaurant. Training covers operations, menu execution, bar management, the World Beer Tour program, hiring and HR procedures, marketing, and financial management. Training costs including travel, lodging, and wages for you and your team members in training are included in the overall startup investment estimate.
Old Chicago's extensive draft beer program - often featuring 50 to 100+ taps - is a major cost driver that distinguishes it from typical casual dining franchise investments. Commercial draft beer systems including glycol cooling, tap towers, kegs, glycol lines, CO2 systems, and refrigerated keg storage can cost $100,000 to $250,000 depending on the tap count and bar configuration. Equipment financing is an excellent product for these systems because the equipment itself serves as collateral, often allowing 100% financing with terms matched to the equipment's useful life. Crestmont Capital can finance draft beer systems as part of a broader equipment package.
If your Old Chicago franchise underperforms its projections, early communication with your lender is critical. Most lenders prefer to work with borrowers facing challenges rather than move toward default. Options may include a payment deferral, loan modification, refinancing into different terms, or drawing on a business line of credit to cover temporary cash flow gaps. Crestmont Capital's team can also connect you with lenders offering restructuring options. The key is not to wait - reach out to your lender as soon as you see sustained underperformance rather than after you have missed payments.
Your 5-Step Funding Roadmap
Review the FDD
Request the Old Chicago Franchise Disclosure Document and review all financial disclosures with a franchise attorney before signing anything.
Build Your Business Plan
Create detailed financial projections including revenue forecasts, expense breakdowns, and break-even analysis. Lenders require this for SBA approval.
Check Your Credit and Financial Documents
Pull your credit report, gather 3 years of tax returns, and prepare a personal financial statement. Resolve any errors before applying.
Apply with Crestmont Capital
Submit your online application and work with a franchise lending specialist to structure the optimal combination of SBA, equipment, and working capital financing.
Close Your Loan and Begin Build-Out
Once funded, coordinate with your general contractor to begin the build-out while your franchise team prepares your pre-opening marketing and hiring plan.
Old Chicago Pizza Taproom represents a compelling franchise opportunity for experienced restaurant operators who want to combine the energy of a sports taproom with the profitability of a full-service casual dining concept. The investment is significant - ranging from $1.4 million to nearly $2.9 million - but the right financing structure makes it manageable for qualified franchisees.
The most effective Old Chicago franchise financing plans combine an SBA 7(a) or 504 loan for the bulk of capital needs, equipment financing for the kitchen and bar assets, and a business line of credit for operational flexibility. This stacked approach minimizes your upfront equity requirement while maximizing the capital available from day one.
Crestmont Capital has helped thousands of franchise owners structure and close the financing they need to open their doors. Our franchise specialists understand the Old Chicago business model, work with SBA-preferred lenders who value franchise experience, and can turn pre-qualification around in 24 to 48 hours.
Whether you are just beginning to explore Old Chicago franchise ownership or you have your franchise agreement in hand and need funding now, Crestmont Capital is ready to help. You can also explore our guides on SBA loans for small businesses and franchise business loans for more in-depth coverage of your financing options.
Ready to take the next step? Apply for your Old Chicago franchise loan today and get pre-qualified in 24 hours.
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Apply NowThe information provided in this article is for general educational purposes only and does not constitute financial, legal, or investment advice. Loan terms, rates, and availability are subject to lender approval and may vary based on individual circumstances. Franchise investment costs referenced are estimates based on publicly available FDD disclosures and may differ from current figures. Always consult with a qualified financial advisor, franchise attorney, and lending professional before making investment or financing decisions. Crestmont Capital is not affiliated with Old Chicago Pizza Taproom or CraftWorks Restaurants and Breweries.