Restaurante y Lechonera Principe
Stabilization Grant, Spring 2016
Restaurante y Lechonera Principe is located on Cecil B Moore Avenue between American Street and 3rd Street. It’s a mom and pop, minority-owned businesses run by a husband and wife team. They have two grandsons who are also involved and work there on a regular basis, a true family affair. They have a loyal following of neighborhood residents, and have recently noticed new customers coming in, most likely a result of the changing Kensington, Norther Liberty, and Fishtown neighborhoods.
The business has been up and running since 2003, and while they’re successful, the tables and chairs were in need of replacement. Additionally, their hot table, used to present and warm freshly cooked food needed upgrading. They applied to TMF in the Spring of 2016 for these furnishing and equipment upgrades and were granted the gift.
These upgrades will help keep Restaurante y Lechonera Principe’s shop functional and aesthetic for the loyal and new-found patrons. It will also help them adapt with the changing and growing neighborhoods. This grant was facilitated by Finanta, A TMF partner.
Finanta, short for financing and technical assistance, is a mission-driven nonprofit lending institution facilitating access to capital and technical assistance in the Philadelphia region. They were established in 1996, making their first loan to a local recycling company. Since then, they’ve generated 20+ years of entrepreneurial expansion, affordable homeownership, consumer borrowing, and community development in the Philadelphia region. They have distinguished themselves by delivering services in a way which is acutely aware of the cultural, social, and language challenges some of their clients encounter. Such an approach is unique today and defines them in their mission to help more socio-economically challenged individuals and families achieve self-sufficiency and stability. They are the #1 SBA microlender in the Philadelphia region and Pennsylvania, and #4 in the nation.