“With our finances stabilized, I had more time to focus on the future of the business. That’s when I found unmet opportunities that led me to pivot my business model,” Renel Turner says about her bakery, Nelly’s Treats, that Pursuit first profiled in January 2024. “And that led to a new and larger location and steady growth.”
Here’s how she evolved from a novice home baker to growing her specialty bakery in Cohoes, NY – and how a SmartLoan from Pursuit helped her gain the financial stability needed to make significant changes and achieve her dreams.
Creating a business, cake by cake
Renel hadn’t planned to open a bakery when she made her first cake on New Year’s Eve of 2010. “I was watching the television show, Cake Boss, and was inspired to try making a cake,” she says. “It was just enough to get me hooked.”
After her first cake-based adventure, Renel devoted her spare time to developing recipes and perfecting techniques, building her skills through online videos and a cake-decorating class at a local craft shop. Over the next decade, she sold baked goods by special order while she also ran a daycare business and raised her daughter – the light of her life and her constant inspiration.
In July 2021, Renel formalized her business and went all-in on baking, opening a retail storefront with an array of beverages and baked goods. She also hired two employees to help with sales and service while she baked and managed the business. She diversified revenue streams, too, by offering baking classes.
A need for financial stability
Renel wanted to stabilize the business’s finances when she first approached Pursuit for financing. “I’d gotten injured in 2023 just before Thanksgiving and I couldn’t bake for several days. It was an ‘aha’ experience that made me realize just how much of my business depended on what I produced with my own two hands – and with that, I knew I needed more financial security for the business.”
While scrolling through Facebook one day, she landed on information about an upcoming webinar on small business loans with Pursuit Senior Business Development Officer Keri Pratico.
“I attended the webinar and right after, I reached out to Keri,” Renel says. After reviewing potential loans with Keri, Renel decided on Pursuit’s SmartLoan as a great option, with loans between $10,000 and $100,000 and affordable repayment terms.
“Working with Keri and Pursuit was wonderful,” Renel says. “The fear and intimidation that I anticipated just evaporated. The process was easy and everyone was supportive. I had funds in the bank in about two weeks.”
Renel’s working capital loan enabled her to address immediate needs, like purchasing equipment, while also giving her the breathing room to plan long-term business goals. With that, she identified new opportunities to grow.
“In addition to classes for the public, there was a lot of interest in using our baking classes for organizational teambuilding,” Renel explains. “That led me to reconsider my entire business model.”
A major pivot leads to a new location and fresh opportunities
Renel realized that her baking classes were more than a revenue-generating opportunity – by their nature, they also meant less of the day-to-day unpredictability and expense that food-based businesses often face. With classes, inventory is easy to plan and there is virtually no waste. The same is true for special orders.
With that key information, Renel decided to pivot her business model from a retail storefront to a bakery focused on catering, special orders, and classes. She also found a new and more spacious location – about 30% larger – at 95 Remsen Street that enables expanded capacity.
“The new location is in one of the busiest areas of Cohoes,” she says, “and our storefront gets a lot of attention and awareness. And now, we can host groups as large as 55 people, although we typically aim for about 25 so that everyone gets a lot of attention and care.”
In addition to their work onsite, Renel and her team present events in the community, including working with non-profit organizations and school districts, which was a dream of hers since she launched Nelly’s Treats. Her positive impact earned a 2024 YWCA of Northeastern New York Empowerment Award.
Pursuit business loans and line of credit: Make your dreams a reality
“Changing the model was a huge decision,” Renel admits. “But it was the right one for my business. Now, I have more control over costs while still doing what I love. Baking fosters creativity, togetherness, and joy and I like to say that we’re baking with a purpose. I’m so thrilled that I can bring this to my community.”
Pursuit is a leading small business lender serving businesses across New York, New Jersey, Pennsylvania, Connecticut, Nevada, Illinois, and Washington. We offer loans and a line of credit for working capital, commercial real estate, equipment, and much more. We’ve helped thousands of small business owners get the funding they need to achieve their dreams and we can help you, too.
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