Jenny Gilligan has baked bread in the commercial kitchen at her home since taking over the business from her mom in 1999. However, in 2014 the septic system on the Weare N.H. property needed to be replaced.
Jenny didn’t have enough collateral to secure bank financing and if she didn’t have her septic system replaced quickly she would have to close her kitchen.
Why the Community Loan Fund made the loan
Abigail’s Bakery had been in business since 1978, and had been profitable since Jenny took over. She had all the skills needed to manage the business, and eagerly worked with a coach referred by the Community Loan Fund who helped her update her financial systems.
Jenny replaced the septic system, and, with the Community Loan Fund’s assistance, is well positioned for the next stage of her business’s development.