loba pastry + cafe turns to crowdfunded loans to open new roscoe village location

the development simply maintains getting pushed, and the substances are very steeply-priced,” the owner stated.

roscoe village — the proprietor of loba pastry + coffee in lakeview is hoping community aid will help her finish the buildout of business’s her new home in roscoe village by way of the fall.

proprietor valeria taylor introduced last year she become moving to a place at 1800 w. addison st. close to the border of roscoe village and lakeview.

taylor’s trying to improve $25,000-$50,000 in crowdfunded small loans via the internet site honeycomb credit in the next month to assist cowl construction costs.

loan crowdfunding allows supporters to basically put money into a enterprise. because the enterprise grows and generates revenue, the proprietor can pay returned the traders with interest by way of the cease of the mortgage term, consistent with the honeycomb internet site.

taylor is elevating money with a ten.25 percent hobby charge. she’s raised $28,600 from 18 traders using honeycomb as of tuesday.

“the development simply continues getting pushed, and the substances are very highly-priced,” taylor stated. “i experience just like the huge matters are almost performed, and i have my new enterprise license. i just want to make sure that things are finished and as much as code so the fitness department can give us a cross.”
taylor planned to open in september 2021, but changing the previous dry cleaners into a espresso save and bakery has taken longer and proved more costly than she expected, she stated.

after consulting together with her architect, taylor estimates it’ll fee about $225,000 to complete the redecorate of the addison spot, she said. the $25,000 she raised through a gofundme ultimate yr to help cover the price of the circulate and buildout quick dried up, she said.

“i didn’t have the entire concept of the whole thing that had to be done to get this location open,” taylor stated. “however as soon as i were given in contact with an architect, that’s whilst i definitely understood the whole thing that needed to be completed.”

taylor become capable of navigate pandemic disruptions to the restaurant industry way to customer service, her gofundme and her savings, in spite of being instructed her commercial enterprise was “too small” to acquire monetary useful resource, she said.

“in surviving the pandemic, i realized that my investment options were very constrained,” taylor said. “it changed into very provoking to me, but, fortunately, my customers, my community, they came through.”

taylor relaunched the gofundme earlier this month with a new intention of $50,000. taylor has raised $27,577 as of tuesday. for the very last push to open the store, taylor decided to also search for new investment options.

“the gofundme changed into an excellent place to begin. and that i had financial savings and become able to get a small loan,” taylor said. “but that estimate is why the honeycomb credit loans are so crucial. this is my ultimate risk to finish the construct out.”

honeycomb got here to taylor’s attention after she saw some other small business submit approximately a a success campaign on social media, she stated.

“with gofundme, the model is, ‘please provide me this cash, i actually need it,’” taylor said. “however with honeycomb it’s, ‘howdy, do you’ve got x amount of cash you could spare? you’ll get a go back on it.’ i think it’s truely cool, and that i hope it really works.”

taylor is from guadalajara, mexico, and moved to florida in 2004 earlier than coming to chicago in 2010.

“developing up in mexico, food turned into usually the center piece of any family get collectively,” taylor stated. “you’re now not just making a meal. you’re you’re making some thing to proportion with human beings, for them to revel in and have a great time.”

after shifting to the united states, taylor realized she ignored that feel of network, which led her to grow to be a pasty chef and open her very own cafe and bakery, she said.
whilst it came time to pick a name for the enterprise, taylor remembered a podcast approximately wolves being reintroduced to yellowstone country wide park. she stated she become captivated through one of the female wolves who changed into “really badass,” a fierce hunter and warrior and the leader of her personal % that took in stray wolves.

“she simply shattered any expectations of what scientists notion a woman wolf could do, and i concept that turned into great,” taylor said.

that enjoy — combined with taylor’s adolescence recollections of her grandma in mexico warning her approximately wolves in the barren region — led her to call the cafe loba, which is spanish for lady wolf, she stated.

“loba is a way to share my passions, the matters that make me very glad,” taylor stated. “sharing meals with humans in a community that has welcomed me with open hands.”