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I like to say we’re in the business of making dreams come true, but technically we are a
design and rental company that specializes in couture linens and furniture for events.
Born in Brazil, Pablo started Nüage Designs ten years ago -- after he was laid off from
an events planning company.
...as every start, things were not easy in the beginning. I didn’t have abundance of
capital to start my business so my first warehouse was actually a suitcase...
Today, Pablo, accompanied by his trusty sidekick, Po, employs thirty people in a large Miami
facility.
(factory noises)
We participate in all kinds of events: social events such as weddings, birthday parties,
celebrations to big corporate events. We have done some of the inaugural balls for President
Obama. We have worked in a number of royal weddings
in the Middle East and those are just a few of the exciting things that we’ve done.
As word of Pablo's expertise spread, his company grew.
In fact, he outgrew three facilities, including the one he was still in when we met him back
in September.
The company kept growing and we kept needing more and more warehousing space, and so my
rent expense was growing exponentially year over year.
And so after I ran some initial numbers, I thought that it would make a lot more sense
to own a property than to keep spending with rent...
Pablo met business banker Mike Rasco while searching for a new facility, which he found
right across the street!
When I first heard about the opportunity to buy the property across the street, I thought
it was a very good fit for Pablo. This is a wonderful area here in the Little
River Business District and it’s something that’s very convenient for Pablo in this
area because being so close, it’ll be easy for him to move without interrupting his business.
Mike then brought in Marissa Ames from SBA Lending.
I was impressed that he had grown his business without obtaining debt and now he was ready
to acquire a piece of commercial real estate and make that balance sheet even stronger
via the asset side. The new facility is going to be able to help
Nuage and the economy as well as the community by maintaining and adding additional employment
in the area which is always a fantastic thing for SBA and Wells to be a part of.
The submittal of a loan application can be a very complex experience and process so I’m
really glad that Marissa and Mike from Wells Fargo made everything so easy for me and they
were such big advocates in making sure that everything went smooth and that I wouldn’t
just like go crazy in the middle of the whole experience.
The new facility increases Pablo's usable space from 23,000 square feet to more than
30,000.
And his Wells Fargo SBA loan financed the purchase of the building and its renovation.
Moving to the new facility really represents a new chapter for our life with Nuage.
I like to say that we’re in the business of making dreams come true for other people.
I feel that Wells Fargo has helped my dream come true with what they’ve done for me.