November 2019
Borrower Profile
Multiple SBA 504 Loans Help Business Continue Swimmingly for Two Little Fishies

Two Little Fishies, Inc., located in Miami Gardens, was founded in 1991 to promote the reef aquarium hobby with its introductory video and books about reef aquariums by aquarium expert Julian Sprung.  Since netting wide acclaim, Two Little Fishies has grown to become a manufacturer and importer of the highest quality products for aquariums and water gardens, with international distribution in the pet, aquaculture and water garden industries.

Two Little Fishies, Inc. Miami GardensWith this substantial growth, it was evident Two Little Fishies needed larger facilities.  The company previously utilized the Small Business Administration (SBA) 504 Loan Program to purchase warehouse/condo properties to accommodate their ever-growing business.

This year, when Two Little Fishies decided to move from their current space to a 5,110 square-foot stand-alone building with exterior storage, the company didn’t have to go fishing for a lender – Florida First Capital was ready and willing to help once again.

Having 2 previous SBA 504 loans, Two Little Fishies had first-hand knowledge of the excellent benefits of the loan program for growing and expanding small businesses.  With up to 90% financing at below-market, fixed interest rates and up to 25 -year amortization terms for the purchase of major fixed assets, such as owner-occupied commercial real estate, energy efficient initiatives and/or fixed heavy duty machinery and equipment, 504 loans make savvy business sense.

“Often, customers think the SBA 504 Loan Program is a one-and-done financing option,” said Alejandro Buitrago, Florida First Capital Vice President and Business Development Officer for the Miami-Dade area.  “In fact, it’s far from it.”

“The good news is, the program is available for multiple projects as long as a borrower’s aggregate SBA eligibility doesn’t exceed $5 million on standard projects and up to $5.5 million per 504 energy efficient green projects not exceed $16.5 million in the aggregate,” he said.

Small manufacturing projects can also receive up to $5.5 million per eligible small manufacturing project with no limit on total SBA dollars available.  These are SBA 2nd mortgage loan portions only with no limit on overall project dollar size.

With the total project cost for the Two Little Fishies’ purchase of just over $1 million and their aggregate loan eligibility under $5 million, the company continues to grow with the help of the SBA 504 Loan Program, further establishing itself as a big fish in the industry.

For more information about SBA 504 loans in Alabama, Florida or South Georgia, contact a Florida First Capital Loan Officer or email us at info@FloridaFirst.com.  Phone: 850.681.3601 or toll-free at 800.504.LOAN.