Sterling Foods, Inc.
Sterling Foods, Inc., located in Opa Locka, Florida, operates in perishable prepared food manufacturing (NAICS 311991). The company was approved for two SBA 504 loans, totaling $3.515 million in SBA portions, that financed real estate or equipment through an SBA 504 loan, with lender Banesco USA and certified development company Florida First Capital Finance Corporation, Inc., with approval dated July 23, 2024.
SBA 504 loan, approved Jul 23, 2024
$1,880,000 SBA portionCDC: Florida First Capital Finance Corporation, Inc.25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,880,000
- Bank portion
- $2,295,000
- Estimated project size
- $4,638,889 (estimated)
- Estimated owner equity
- $463,889 (estimated, about 10% of the project)
- Bank lender
- Banesco USA, Miami, FL
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- July 23, 2049 (estimated, approval date plus term)
- First disbursement
- Sep 17, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 80
- Business type
- Corporation
- NAICS
- 311991, Perishable Prepared Food Manufacturing
- Project location
- Miami-Dade County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-24
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Perishable Prepared Food Manufacturing: $2,426,800.
- Average expansion loan in Florida: $2,058,496.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
SBA 504 loan, approved Jul 23, 2024
$1,635,000 SBA portionCDC: Florida First Capital Finance Corporation, Inc.25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,635,000
- Bank portion
- $2,040,000
- Estimated project size
- $4,083,333 (estimated)
- Estimated owner equity
- $408,333 (estimated, about 10% of the project)
- Bank lender
- Banesco USA, Miami, FL
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- July 23, 2049 (estimated, approval date plus term)
- First disbursement
- Sep 17, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 80
- Business type
- Corporation
- NAICS
- 311991, Perishable Prepared Food Manufacturing
- Project location
- Miami-Dade County, FL
- SBA district office
- South Florida District Office
- Congressional district
- FL-24
- Collateral
- Yes
Estimated share of project by source
Bank 50% SBA (CDC) 40% Owner 10%
- Average expansion loan in Perishable Prepared Food Manufacturing: $2,426,800.
- Average expansion loan in Florida: $2,058,496.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.