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The CMFA issues $3,668,900 in Bonds to Cardenas Three, LLC based in Mira Loma, California

In 2012, Cardenas Three, LLC created Magnolia Foods, a manufacturer of corn and flour tortillas, as well as sopes and other related products. The proceeds of the Bonds will be used to make a loan to Cardenas Three to finance the costs of the acquisition and installation of new food processing equipment to be located at 11058 Philadelphia Avenue, Jurupa Valley, California. This equipment will allow Magnolia Foods the capacity to produce several thousand dozens of tortillas per hour. The equipment is to be owned and operated by Cardenas Three, LLC. The purchasing of new equipment will allow them to continue to grow which in turn will lead to the continued success and subsequent economic benefits to the public and their community.

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