There’s nothing quite like the crackling warmth at the heart of a campsite.

“I just love what the fire does,” said Amante Domingo. “It brings people around, and it brings people together.”

Domingo, 38, has incorporated wood-fired cooking into the menu of his restaurant, The Russell, at 3141 Main St. in Kansas City, Missouri. But his operation almost went up in smoke last year after he fell prey to aggressive pitches offering easy financing.

Domingo opened The Russell in 2016 as a catering business, adding the restaurant component a year later.

His background in design and photography translated well to creating dishes. Plus, he grew up harvesting produce on his father’s organic farm, helped in his parents’ farm-to-table restaurant in downtown St. Joseph, Missouri, and rose from server to managing partner while working at The Classic Cup on the Country Club Plaza.

Things got dicey for Domingo as he was working to open his second restaurant, NOKA, which specializes in rustic Japanese cuisine. He opened the restaurant, at 334 E. 31st St., in Kansas City in April 2023.

The need for a new HVAC system — and other unforeseen expenses — drained Domingo’s $90,000 bank loan before he finished restoring the space, which was once home to the Empire Room nightclub.

With few options, Domingo turned to merchant cash advances (MCA).

MCAs offer businesses quick cash in exchange for a percentage of future credit card transactions. 

Much like consumer payday loans, MCAs are risky because borrowing costs, including fees, can equate to interest rates of 50 to 100 percent or higher. MCAs can also strain cash flow, especially for businesses with fluctuating sales.

Domingo borrowed about $450,000 from three MCA companies and racked up hundreds of thousands of dollars in credit card debt. His combined monthly payments reached about $75,000. 

The Russell was in jeopardy because the MCA payment was eating up a huge chunk of its credit card receipts. Domingo was losing the race to open Noka in time to help pay down the debt.

“It was terrifying,” he said. “I was financially hemorrhaging so badly that I needed to find a way out.”

He turned to AltCap, which had provided him a loan early in the COVID-19 pandemic. As a customer of The Russell, AltCap CEO Ruben Alonso III had also encouraged Domingo to seek assistance from AltCap if needed.

AltCap provided a loan that helped Domingo pay down his debt. His monthly payments are one-fifth of what they were when he was in trouble.

AltCap’s review was thorough, Domingo said.

“But the best part of the process is that they really cared about the local business. It wasn’t just about (profit and loss statements) and financials,” he said. “The writing was on the wall, and they knew the situation I was in, and so where other banks were like, ‘I can’t loan you any more money,’ AltCap was able to figure out the best way to navigate through it.”

Domingo said that he’s currently working on building a new speakeasy with and outdoor patio below NOKA. The Japanese farmhouse style restaurant, located at 334 E 31st St., has quickly become one of Kansas City’s trendiest restaurants. Read more about NOKA and its creative dishes here.