The loan will help the new owners of City Cakes & Cafe
The Salt Lake City Council recently approved a $100,000 Economic Development Loan Fund (EDLF) loan for City Cakes & Cafe, a local vegan and gluten-free bakery located at 1860 S. 300 West, Suite D.
“City Cakes & Cafe is a cherished part of our community that fills a need along the Wasatch Front, and I’m thrilled to see it continue to flourish under new ownership,” said Salt Lake City Mayor Erin Mendenhall. “This loan reflects Salt Lake City’s commitment to growing our thriving local businesses.”
The bakery has been serving Salt Lake City since 2009, and customers travel from as far away as neighboring states for their wedding cakes.
“It’s truly special to see local businesses like City Cakes & Cafe stand the test of time and become staples of what Salt Lake City is known for,” said Darin Mano, City Council Member for District 5. “I’m grateful for the opportunity to help support entrepreneurs who invest in our local economy and preserve the character of our community.”
Working with the Business Development division of the Department of Economic Development, the new owners of City Cakes & Cafe, Tim and Marcello Rikli, received a $100,000 EDLF loan to assist with the acquisition of the bakery, a staple and iconic Salt Lake City business of 15 years.
“The EDLF empowers businesses like City Cakes & Cafe to succeed while enhancing our city’s economic vitality,” said Lorena Riffo-Jenson, Director of Salt Lake City’s Department of Economic Development. “This program showcases how we can support entrepreneurship and create lasting positive impacts.”
The EDLF’s purpose is to stimulate business development and expansion, create employment opportunities, encourage private investment, promote economic development, and enhance neighborhood vitality and commercial enterprise in Salt Lake City by making loans available to businesses. The program’s overarching goal is to invest in viable businesses that produce strong economic returns and also provide positive social and environmental impacts. Learn more here.
About City Cakes & Cafe: For over a decade, we have served our community with gluten-free and vegan baked goods made from scratch. Come join the community at one of our two locations in the Salt Lake Valley or order from our online store for shipping in the continental US. Learn more here.