Silvia’s Bakery
Owner: Silvia Paulino
Location: Philadelphia, PA
Business: Bakery and Cupcake Shop
Purpose of Loan: Business Expansion and Property Purchase
Philadelphia is a little sweeter thanks to Silvia Paulino. Originally from the Dominican Republic, Silvia moved to Philadelphia in 2002. Coming from a family with a restaurant business, she practiced her craft and soon became popular among local residents for baking savory and sweet Dominican pastries. A year later, she opened Silvia’s Bakery in the Kensington neighborhood of Philadelphia.
After ten years of continued success, Silvia was struggling to keep up with demand and knew she needed to expand her business. She followed the advice of a friend and received a loan through Finanta/FINANTA’s Affinity Group Lending Program. From the first meeting, it was clear that besides financing, Silvia needed guidance and technical assistance to help take her business to the next level. Over the next several years, Silvia received multiple loans for renovations and purchasing new equipment to increase production.
As her business continued to grow, Silvia was ready to take the next step. Unable to expand any further at her original location, she started making plans to relocate and launch a larger facility. Our team provided Silvia with hours of one-on-one technical assistance regarding multiple issues with purchasing a new property, undertaking major renovations, and outfitting the space with new equipment to accommodate her expanding operations. In January 2020, Silvia opened her new bakery on a property featuring a larger production area, sales lobby, and large customer parking lot. Today, Silvia’s business continues to thrive, as she and her team of 12 employees create custom cakes, assorted desserts, and other tasty treats for both individual customers and wholesale accounts.