December 2019
Borrower Profile
SBA Financing Helps Dr. Aromas Maintain the Sweet Smell of Success

Since the early 1990s, Marcelo Zelicovich has worked in the fragrance business – first in his native Argentina and then in the United States.  In 2007, Marcelo launched Dr. Aromas and, with partner Violeta, has grown the business to include the wholesale, retail and online distribution of home and office aromatherapy scent systems with a retail/showroom located in North Miami.

Dr Aromas North MiamiDr. Aromas sells diffusers, perfumes and essential oils and other items specific to fragrance diffusion. Commercial clients include large hotels throughout South Florida and condominium complexes.

When a manufacturer who worked closely with Dr. Aromas decided to retire, he approached Marcelo and Violeta about purchasing the real estate and equipment.  The borrowers recognized the opportunity to save hundreds of thousands of dollars by controlling the manufacturing process.

With a total project cost of $465,000 for the real estate portion of the project, using a Small Business Administration (SBA) 504 loan through Florida First Capital with a below-market, fixed interest rate, 10% down payment and a 20-year amortization term to purchase and renovate the 4,600 square-foot free-standing property made good sense.  For the equipment financing totaling $120,000, the borrowers utilized an SBA 7(a) companion loan amortized over 5 years.

“The SBA 504 Loan Program is an ideal complement to other financing tools, providing a complete solution for our borrowers,” said Alejandro Buitrago, Florida First Capital Vice President and Business Development Officer for the Miami-Dade area.  “While the purchase and renovation of the real estate was the majority of the transaction, we were able to accommodate all remaining expenses with the help of our commercial lending partners.”

The SBA 504 Loan Program provides up to 90% financing at below-market, fixed interest rates and long amortization terms up to 25 years for the purchase of major fixed assets, such as owner-occupied commercial real estate, energy efficient “green” initiatives and/or heavy duty machinery and equipment.

504 loans are paired with private-sector commercial loans and provide up to $5 million of aggregate SBA eligibility on standard 504 projects; up to $5.5 million per 504 energy efficient green project not exceed $16.5 million in the aggregate; and 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; there is no limit on overall project dollar size.

For Dr. Aromas, SBA financing is the essence of good business.  Visit them online at

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