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Continued: Minneapolis bakery owner finds financial recipe

  • Article by: NEAL ST. ANTHONY , Star Tribune
  • Last update: February 17, 2013 - 7:48 PM

Frank Fuller, president of Franklin Bank, said his commercial loan portfolio is growing. And loans to businesses smaller than $1 million in sales are up 50 percent, to $9.8 million, since 2008. But Fuller, who also oversaw foreclosures and bad-debt collections during the recession, admitted that Franklin is more conservative than in the past.

Lee Blons, executive director of Portico Collaborative, the nonprofit developer of the Nicollet Square project, said the restaurant financing was a great investment. The corner has come alive. And Butter employs several interns through an adjacent youth nonprofit that subsidizes the wages and helps the teens move through training and to permanent employment.

Nicollet Square, with 43 units, houses teens leaving foster care who are completing their educations or looking for work.

“It was wonderful to find Butter Cafe,” Blons said. “Dan is so community-minded. So far so good.”

 

Neal St. Anthony • 612-673-7144

 

  • related content

  • Head baker Amy Kovacs frosted cupcakes Wednesday at Butter Bakery Cafe at its more spacious location on Nicollet Avenue in Minneapolis.

  • Dan Swenson-Klatt, who left a teaching job to start Butter Bakery Cafe, got help with financing his business’ expansion from many sources, including the Metropolitan Consortium of Community Developers.RENÉE JONES SCHNEIDER • Star Tribune

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