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SBA 504 Loan Helps Produce Distributor Cultivate Success

May 2021

From the moment a tomato is harvested until it’s delivered to a local business to serve or sell, it’s a race for freshness. The same is true for all produce and getting the goods to consumers at their tasty peak is often the job of wholesale distributors like Yes Fresh, Inc.

Yes Fresh was established in Doral, Florida in 2015. Considered Miami’s preferred source for quality wholesale produce, the company distributes a variety of farm fresh products including avocados, tomatoes, cilantro, jalapenos and onions – but above all, they’re known for their exceptional Persian limes.

Originally from Cuba, Yes Fresh president, Rosa Prat, immigrated to the United States in the early 1990s after finishing college in Venezuela. Prat was employed by a medical supplies distributor and worked in the industry for more than 15 years managing the distribution channels.

In 2015, Prat decided to make a radical career change and founded Yes Fresh. Since launching the business 6 short years ago, Prat, who is sole owner and manager, has grown the company to nearly $6 million in sales.

As the company blossomed, they quickly outgrew their 6,000 square-foot space and sought financing to purchase a 16,810 square-foot warehouse/office. Alejandro Buitrago, Florida First Capital Vice President and Business Development Officer, cultivated the perfect lending partnership to provide an SBA 504 loan for the $3 million project.

With 64% of the warehouse equipped with freezers, coolers and refrigerated spaces, the property was considered special use and required a 15% down payment from the borrower.

“Even with the increased borrower injection, SBA financing compares favorably to conventional terms, which often require down payments upward of 30% or more to secure this type of special asset,” said Buitrago. “Additionally, the proceeds can also be used to cover professional fees and soft costs so allowing the borrower to reduce their cash outlay and preserve vital working capital.”

With the help of a 504 loan, Yes Fresh looks to continue a fruitful future!

For a full list of SBA 504 Loan special use properties, visit https://ffcfc.com/From-Bowling-Alleys-to-Mines-the-SBA-504-Loan-Program-Finances-a-Wide-Variety-of-Specialty-Properties.

Visit Yes Fresh at https://www.yesfreshinc.com/.

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, renovations, new construction, energy efficient “green” initiatives and/or fixed heavy duty machinery and equipment, as well as the refinance of commercial mortgage and other business debt with or without a cash-out option.

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 more information about SBA 504 loans in Alabama, Florida or South Georgia, contact a Florida First Capital Loan Officer or email us at info@ffcfc.com. Phone: 850.681.3601 or toll-free at 888.320.5504.