Hermann’s Loutre Market grocery story observes 10th anniversary this summer

ERik & MelodyBy staff writer

Loutre Market grocery store near Hermann is celebrating its 10th year in business.
Erik and Melody Palladino built the facility after the original grocery store was destroyed by fire in 2002. The original Loutre Market, built in 1963, survived major floods in 1973, 1986, 1993 and 1995, but the fire on September 15, 2002 left the building unusable.
When the original owners decide not to rebuild, Erik Palladino, who had worked at the store growing up, decided to open another grocery store named Loutre Market, keeping the name the same to honor the brand and his memories.
The new store was built just north of the old market. To help finance the project, Erik and Melody worked with Enterprise Development Corporation to secure a SBA 504 loan. The SBA 504 loan program offers small businesses a long term, fixed interest rate, as well as a lower down payment than conventional financing. The lower down payment allowed the Palladinos to get the project off the ground and the fixed interest rate made planning for the future an easier task.
Loutre Market is a success story because of the value it offers to the community. It not only provides groceries and supplies to the people of Hermann and surrounding areas, but it also employs five full-time and 38 part-time employees. The market prides itself on stocking the best local, regional and state produced products.
You can contact the market and Melody and Erik at melody@loutremarket.com and erik@loutremarket.com, to learn more about their unique history of their business and about their plans for the future

Posted on Tuesday, July 22, 2014 at 2:00 pm