Small Business Spotlight
Buyers partner with Ready Capital to keep Florida business blooming
First-time Florida business owners brought an unsecured deal and staff dependencies to Ready Capital. Read the deal story and learn more about our services.
Loan Amount
$1,095,250
Loan Purpose
The Small Business
Blake Roses
Sunny Isles Beach, FL
The Financing Challenge
A husband and wife came to Ready Capital with the goal of becoming first-time business owners. They had their eyes on a florist studio that had served the Sunny Isles Beach, and several nearby communities, for over two decades.
Loan Scenario
Here's what our borrowers brought to Ready Capital
New to ownership
No prior business ownership or industry experience, and short tenure for current owner.
Unsecured deal
An unsecured deal with much of the loan proceeds going toward goodwill.
Staff dependencies
A team of 4 studio employees and 6 delivery personnel whose livelihoods depended on a smooth transition.
CREATIVE SOLUTION
Ready Capital was able to review the borrowers' backgrounds and business plans with an eye on their potential. The numbers worked, and the couple's plans to grow the business were rooted in both established successes and modern model upgrades that made sense.
Reliable Results
- Locked in $1,095,250 of SBA 7(a) financing to cover the business acquisition and working capital.
- Included $15,849 to cover fees and closing costs for the new owners.
- Able to provide continuity for the staff and customers who’d come to count on Blake Roses to bring beauty and elegance to local hotels, condos, and weddings.
The Non-Bank SBA Preferred Lender Difference
A small business loan is not an empty box like a checking or savings account. No two small businesses are alike when it comes to their financing needs. This means that small business financing requires out-of-the-box thinking and capabilities many banks simply can’t offer.
Ready Capital is a non-bank, SBA preferred lending partner (PLP). We speak fluent small business and have the process in place to help them reach their goals the first time.