H.P. Palomino
H.P. Palomino
Information, communication & technology | Americas | Access to Education |
Overview
The California FreshWorks Fund provided $651840 in financing and $15500 in grants for H.P. Palomino Inc. to finance equipment and tenant improvements for a 6000 sq. ft. neighborhood superette in the south Los Angeles community of Huntington Park.rnrnOpened in October 2013 H.P. Palomino is the second retail site to be owned and run by Abu Tahir Rafiq Shah and Akhtar Shah. Together the owners who are related bring more than 50 years in the grocery store business. The family has operated Palomino Market Inc. a successful neighborhood market in Maywood for over 12 years. The owners of H. P. Palomino purchased the business in March 2011 with the intent of slowly converting a single register liquor and packaged goods store into a neighborhood superette. With financing from the California FreshWorks Fund H. P. Palomino will be able to achieve this goal in a matter of months rather than over several years bringing fresh produce a full service meat counter deli dry goods and prepared foods to the local community.rnrnWhile there are a few grocers in the area there is a measurable need for additional fresh food retailers. An estimated 53% to 83% of those household s grocery dollars are spent outside of the local neighborhood.rnrnTo help build financial management and reporting capacity of the growing business FreshWorks also provided the owners of the Palomino markets with a technical assistance grant for the costs of new financial management software training and related hardware. These new financial management tools will allow Palomino Market and H. P. Palomino to better track expenses and produce more detailed financial statements.
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| Information, communication & technology | Out of Business |
