Fancypants Baking Company
Fancypants Bakery makes specialized cookies for clients like Whole Foods and SuperTarget. To take advantage of exploding demand, the company needed a larger space and new equipment. How could Fancypants get the vital capital it needed to grow? A $327,000 MassDevelopment loan enabled Fancypants to move into a renovated building with 15,000 square feet of extra space. The loan allowed Fancypants to hire staff and purchase new production equipment. Fancypants has significantly increased its operating efficiency, doubled its payroll, and boosted sales by 43%. The company expects to grow from $1.6 million to $5 million over the next five years.