Agave Maya LLC (dba Nuevo Acapulco) is a full-service Mexican restaurant located in Fairview Park, OH. The business is owned and managed by Mio “Charlie” Rico and Vincente Ramirez, who took ownership of the restaurant in 2007. Both immigrated to the United States from Mexico in the early 1990s, and Nuevo Acapulco was their first job upon settling in Cleveland. The two became friends, and then eventually would become partners when the restaurant was for sale.
Agave Maya LLC applied for a SBA 7a loan though GAF to acquire the commercial property that it had been leasing since 2018. The company requested a $520,000 loan with a fixed rate of 6.25% and a term of 25 years. The company provided $120,000 in equity. GAF Loan Committee approved the loan in September 2021, citing strong cash flow, full collateral coverage, and alignment with NDC’s mission of supporting minority-owned small businesses. The loan closed right before the end of FY 2021.
GAF was introduced to this small business through the Hispanic Business Center, a Small Business Development Center that offers free technical assistance to small businesses of all stages.
Mia Roco and Vicente Ramirez expressed their appreciation when they stated, “We, Nuevo Acapulco, appreciate the excellent service and help you provided. We definitely would recommend NDC services to other businesses. Thank you for for everything!”