Cakes for cash are the trade that secured the extra funding a new Southington bakery needed to open.
Michael Cirrito had big trouble getting his idea for Calisto Sweet Treats Bakery cooking, the Meriden Record-Journal reports.
He lost a bid for a Plantsville location and, like many in this economy, he was having a difficult time selling his plan to bankers.
After being turned down by lender after lender, things finally began looking up.
Adam Cianci, a partner with the Cianci Group of Plainville, heard of his financial troubles and made him an unusual offer- the granite for Cirrito’s countertops in exchange for two years worth of birthday cakes for five children, the Record-Journal reports.
"That's 10 cakes," Cirrito told the newspaper. "It will cost me a couple bucks. It will cost them seven, eight hundred dollars."
For the baker, it was a no brainier.
With new funding, Cirrito was then able to secure a location at 1217 Queen St., complete with two free months of rent.
He was also introduced to vendors who found him equipment at auction prices and contractors who were willing to work in exchange for baked goods. Even his architect was willing to keep the price low in exchange for some bakery treats.
“It’s just small businesses helping each other,” Cirrito told the newspaper.
Exchanging goods for services has emerged as the creative solution to the credit crunch.
According to the Connecticut Small Business Development Center, there is a new demand for battering information to help curb the financial troubles small businesses face.
While there are some risks attached to the system, Cirrito is willing to take a chance, hoping that the deals will keep the workers returning and encourage others to do the same.
Calisto Sweet Treats Bakery is set to open the week before Mother’s Day with a celebration for all who helped raise the dough.