La Princesita Bakery
Rio Bravo,TX. 78046
SBDC support agent:
Mr. Eduardo Rodriguez and his daughter Norma came by the Small Business Development Center requesting financial assistance for working capital, equipment and inventory for their business. Mr. Rodriguez opened a small bakery with his own savings. The family business is run by, Mr. Rodriguez, his wife and his daughter Norma. They cook pastries and delivery them to businesses and clientele in Laredo, Texas. His daughter, aside from baking, marketing, being involved in the sales and distributing, maintains the business’ records.
Business Development Specialist Gladys Rangel explained the loan process for obtaining financing through different programs such as, but not limited to, Commercial loan, SBA loan and Micro loan. Mr. Rodriguez, informed the Ms. Rangel, that he did not have sufficient credit to obtain financing. He went on to say that he had been turned down by several local financial institutions. This is why, he decided to visit the Laredo SBDC.
Therefore, we proceeded to apply for a micro-loan, thus using “Accion Texas Loan Program.” We worked out the details and applied for a the loan. The pre-application was accepted and we began the process of obtaining the documents required.
Mr. Rodriguez was contacted by Mr. Segura from Accion Texas and informed him that the loan had been approved. Mr. Rodriguez shared with us that he could not believe he had been approved. Mr. Rodriguez was able to purchase not one but rather two industrial stoves and industrial refrigerator. He had monies left over that he used to remodel the front entrance of his home so that he could also sell to the residents of Rio Bravo.
Mr. Rodriguez is considering expanding his business and has contacted the Laredo SBDC for assistance.
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