Pratt Morales
Owner of Golden Crown Panaderia in Albuquerque, New Mexico
The first thing that hits you is the aroma, then the warmth of the ovens. The air inside Golden Crown Panaderia is soft and heavy with the scents of fresh anise, cinnamon, sugar, and yeast.
Behind the counter, father and son bakers Pratt and Chris Morales are busy filling orders for biscochitos (New Mexico’s state cookie), hearty loaves of bread and bolillos, and a dozen or so varieties of empanadas. Their creativity is on full display in the fall, when they churn out pan de muerto for Day of the Dead celebrations and incredible Thanksgiving centerpieces sculpted from bread. Pizza with top-notch ingredients is always on the menu.
“Bread is the stuff of life — it's universal, and something you share,” says Pratt.
Golden Crown is an iconic New Mexico bakery whose historic adobe building is recognizable to anyone hungry for authentic local flavor. But the Mountain Road space wasn’t always Golden Crown’s home.
When the building became available in 2004, Pratt knew it was the right move for his long-established business — he just had to figure out how to buy it. Pratt, a 23-year Air Force veteran, had decades of success and a loyal following behind his bakery, but his limited credit history was a barrier to working with traditional banks.
“I had run my business for years without borrowing,” Pratt says. “But if Chris and I were to realize our plans for purchasing and expanding the bakery’s building, we needed credit to do it.”
A banker referred Pratt to DreamSpring, who worked with him to get approved for a Commercial Real Estate loan. Pratt used the funds to buy his dream building, install a high-production kitchen and baking space, and add café seating inside and out. Since the move, Golden Crown’s reputation has only continued to rise.
Pratt returned for a smaller Commercial Real Estate loan in 2018 to make more improvements to his property, and again in 2020 when he needed Paycheck Protection Program (PPP) funds to ensure his business could ride out the pandemic.
“The best move I've made was DreamSpring because they have the funds available, they know me personally, they give me quick service, and they're more than just providing money — they provide financial professional assistance, business assistance, and they have quite a staff,” he says.
“I feel so comfortable with DreamSpring. For me, it was just incredible and very fruitful.”