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Sanchez Took a Running Start to Launch his Bakery & Cafe

BUFFALO, NY – Hispanic business owner, Victor Sanchez and his wife, Daisy Arce knew it could be done, but few others believed the couple from Geneva, NY could bring their dream of running their own bakery and café into reality.

It was 2018, Sanchez, who majored in physical therapy and worked several jobs in the food industry, took a running start to launch his own business. “I had to take some time to learn about the business side of running a business,” said Sanchez. “I did some digging, conducted a survey and what I found was perfect for my business launch.” several Spanish families lived in the area without a nearby Spanish bakery or café.”

Sanchez’ search revealed a Spanish community without a Spanish bakery and café. So, Sanchez took the next steps and searched for funding opportunities, he wondered if he would be able to pull a deal together. He stuck with it and eventually learned about the SBA’s Lender Match tool. Lender Match connects small business borrowers with potential lenders offering SBA-backed funding.

Lender Match helped Sanchez find the perfect SBA lender, Generations Bank. “Generations Bank, AVP – Market Sales Manager Teresa Velez de Morales said, “We do a lot of one-on-one assistance with our clients where we focus on business plans, strategies and mitigating risks for us and them.” “We were able to understand the business and approve Mr. Sanchez for an SBA -backed loan.”

El Rinconcito Bakery & Café serves up fresh baked breads, cakes, breakfast and deli sandwiches and many other Spanish desserts and pastries.   Located at 142 Castle Street, the bakery and café is open from 6 a.m. to 3 p.m. and offers dine-in and take-out options.

Just a few years in business, the nation was hit with the COVID-19 pandemic. The pandemic presented challenges that could have forced the business to close, but instead, Sanchez and his wife focused on remaining attractive to their customers and began offering combo selections and delivery.

With New York State directed closures, the couple was faced with financial and employee loss. A few employees decided to move out of town and others took positions at other local businesses that were essential and remained open during the pandemic.

Sanchez and his wife reached out again to Generations Bank who was willing to help. The couple was eligible for and received both PPP first draw and second draw loans and economic recovery SBA debt relief.

“In addition to help from the PPP forgivable loans and debt relief, we also obtained an Economic Injury Disaster Loan (EIDL) and EIDL Targeted Advance, said Sanchez.” “The many SBA Covid-19 funding opportunities have allowed us to stay on track with working capital and continue and retain our payroll.” “You work long and hard to make your business succeed, we will not stop pushing forward.”

SBA is here to help small businesses overcome the challenges created by this health crisis. We help in financing, education and training and government contracting. We aim to help entrepreneurs start and grow their businesses and keep them thriving. For more information, please contact your local SBA Buffalo district office at (716) 551-4301 or visit us online at sba.gov/ny/buffalo.