Silvia Bakery II
Stabilization Grant, Spring 2016
Silvia Bakery II makes homemade cakes and sweets for every occasion. It’s a woman-owned, minority-owned, mom and pop that’s been growing a loyal customer base in the Latin community for some time. The bakery draws people from all over the Delaware Valley looking for her specialties, particularly her cakes. Silvia herself was a graduate of the International Culinary Institute in pastry making, and she plans to continue on her baking legacy. She also has a robust distribution to local corner stores. Silvia’s mission is to “bring consumer quality products at an affordable price with excellent service, establishing [themselves] as the best choice in the purchase of bakery products in the City of Philadelphia.”
Silvia Bakery II applied to TMF for a Stabilization Grant to purchase a bread forming machine. These machines tend to be very costly and would have made operations tight had she financed it on her own. Her application was approved, which will allow her wholesaling and baking capacity to increase. Her production volume will not only increase, but it will save her outsourcing costs long-term. This grant was facilitated by Finanta, a TMF partner.
Finanta, short for financing and technical assistance, is a mission-driven nonprofit lending institution facilitating access to capital and technical assistance in the Philadelphia region. They were established in 1996, making their first loan to a local recycling company. Since then, they’ve generated 20+ years of entrepreneurial expansion, affordable homeownership, consumer borrowing, and community development in the Philadelphia region. They have distinguished themselves by delivering services in a way which is acutely aware of the cultural, social, and language challenges some of their clients encounter. Such an approach is unique today and defines them in their mission to help more socio-economically challenged individuals and families achieve self-sufficiency and stability. They are the #1 SBA microlender in the Philadelphia region and Pennsylvania, and #4 in the nation.