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Home > Testimonials

TESTIMONIALS

 
Praise for Illinois’ Eva Aquino, BDO and Team Leader
Customer Jeff L. Welsh, Chitown Sports Facilities acknowledges Eva and the Popular Small Business Capital team:
“I have been banking with Banco Popular since 2000. What started as just a business relationship has turned into a Love Affair. I Love Banco!! In 2001, I needed a loan to build the business I currently own and was directed to Eva Aquino for an SBA loan. I was disorganized in my request, but Eva and her staff were patient with me, educating me on how to put my paperwork and documents together. They ‘mothered’ me through the process. I was so excited when my company was approved for the loan. I’m not sure any other bank would have done as much for me. This kind of service and the many little gestures at my bank branch on 26th street have made me a great fan and loyal customer. A few other banks have tried to talk me into moving, but when I tell them what Popular Small Business Capital has done for me, they are left pretty speechless.”
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Florida’s Joanne Jolin and the SBA Team Helps Power House Equipment Grow its Business
“I would like to express my sincerest gratitude to the Popular Small Business Capital division of Banco Popular. Never before have I experienced the degree of professionalism as I did in securing my SBA loan dealing with Joanne Jolin and the whole Popular Small Business Capital team. The new loan has allowed me both to consolidate my debts, as well as grow my business through the purchase of new assets, making Powerhouse Equipment Rental the largest independent rental store in all of Volusia County. I can't say enough about how wonderful an experience the whole loan process was. I highly recommend Popular Small Business Capital to any business owner who is serious about expanding their business and wants to excel in the marketplace.”
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Praise for Central Florida's José Orlando Vega , BDO
Customer Jose Esteves Jr., Family Food Distributors reports:
“My name is Jose Estevez Jr. I am the President and operator of Family Foods Distributors Corporation. It has been an absolute pleasure working with all the representatives of Popular Small Business Capital. In particular, doing business with Orlando Vega has been one of the best experiences I have had. He has been prompt, thorough, and knowledgeable. I truly believe that Family Foods received the best deal possible due to Orlando’s dedication to this project. I also need to compliment the staff at Popular Small Business Capital at the Orange Ave Branch, Annie Hernandez the Branch Manager and Hiram Turull who help us with the Cash Management Services. Everyone is positively pleasant, and I look forward to seek all my banking needs at Banco Popular.”
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SUCCESS STORIES

Business Name: Power House Equipment
Type of Business: Equipment Rental
April 2006
Challenge
Power House Equipment developed a strong customer base and was ready to grow their business. They had a problem with existing debt that needed to be restructured. Their debt consisted of a bank loan with a balloon payment and several equipment finance leases at high interest rates. The business was doing very well, with certain equipment always rented out. They realized that if they had the capital to purchase more equipment, their sales would continue to grow. They needed to refinance existing debt with better terms and rates to improve cash flow. Story Picture
 
Solution
We reviewed all their loan notes for SBA refinance eligibility. All of the existing debt of Power House Equipment was eligible for SBA refinancing. Refinancing the equipment leases improved cash flow by at least 20%; the bank note was eligible because of the balloon payment, considered unreasonable terms. We showed the customer that with an SBA loan we could indeed improve their monthly cash flow. An SBA loan was structured that reduced their existing monthly debt service by over 40%, a substantial improvement. We also provided funding for new equipment purchases, working capital, and financed the closing costs! We met the borrower’s needs and solved their problem.
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Business Name: Family Food Distributors, Corporation
Type of Business: Supermarket
June 2006
Challenge
Family Foods is a food market located in Orlando, Florida which currently operates two locations. Our client base consists mainly of members of the Caribbean community, and we pride ourselves on having two of the top Caribbean-based stores in Orlando. Recently, the opportunity to open a third location presented itself. We felt very confident and excited about opening a third store, but didn’t know where we would we get financing? By coincidence, a friend we were having a conversation with told us to call Orlando Vega from Popular Small Business Capital. Our friend told us that Orlando Vega had helped him with an SBA loan for a startup business similar to ours. We were a bit skeptical at first because we thought that bank financing was very difficult to get and it would be a waste of time. We were wrong. It just took one phone call to Orlando Vega and we got the ball rolling. After a few initial meetings, and after we prepared a few documents together, Popular Small Business Capital issued Family Foods an approval for $1,228,500.00 toward business expansion and improvements. That phone call to Popular Small Business Capital was the best phone call we have ever made.
 
Solution

Family Food Distributors Corporation was interested in expanding their corporation. They have two supermarkets in a low income neighborhood in downtown Orlando, Florida. The corporation was interested in some leasehold improvements and wanted to purchase modern equipment for the two stores. In addition for the one that they are interested in opening they needed to secure inventory and finance closing costs. We suggested a Small Business Administration Guarantee Loan and in a timely manner we had the loan approved.

With this loan from Popular Small Business Capital, our family business can achieve almost limitless growth. We really believe in our product, and now this opportunity gives us a chance to succeed in ways we have only dreamed of. Popular Small Business Capital opened many doors for Family Foods. This is our first real encounter with bank financing and we are confident it will undoubtedly open more doors in the future as our relationship with the bank grows. We also now have the means to open our third store with more to come. Finally, in addition to our business expansion, Popular Small Business Capital has also offered interesting options related to our commercial business checking accounts that are perfectly geared toward our business and we look forward to using.

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