Artist’s Studio takes shape with help from TMC Financing

March 31st, 2015

Artist’s Studio Takes Shape with Help from TMC Financing

TMC Financing today announced master potter Adam Silverman financed the purchase of a 4,350-square-foot studio and showroom at 510 W. Garfield Avenue in Glendale, California with a 20-year, fixed-rate Small Business Administration 504 real estate loan. The total project cost of just under $965,000 includes the purchase and subsequent improvements.

“It’s so liberating,” Silverman said. “The space is literally awash in light and air, and I can see that reflected in my work. There’s a garden out back that’s green and lovely and it brings life into the studio.”

Adam Silverman PotterySilverman enjoys a cult following in the worlds of art and design for his textured pots, some of which take months to make. “Hopefully, my work is unique and not what you’ve seen before,” he said. “Which, I guess, is an ambitious goal when people have been making pottery for 15,000 years?”

Formerly, Silverman created pottery under the Heath Ceramics L.A. studio. “After five great years at Heath, I started thinking of re-establishing my own studio. I knew if I didn’t do this now, I wouldn’t do it. I wanted a building I could settle in for a good, long time. I started looking at 10-year leases, and thought, ‘this is ridiculous!’”

Adam Silverman CeramicsSilverman quickly found that owning can be more affordable than leasing. “I didn’t think there was any way to get this on my own with the banking crisis and everyone being so conservative [in lending] now. I just thought I’d go along until I heard no, but I sat down with Jennifer [Davis from TMC] and she said, ‘we can totally do this.’”

“Typical SBA 504 real estate loans require 10 percent down, but this was considered a startup so Adam injected 15 percent,” TMC Financing SVP Jennifer Davis explained. “This is a great space for him and I’m glad we could help usher in his next chapter. He’s been an architect, clothing designer and potter—I can’t wait to see where his work goes from here.”

“There was no possible way to do this without the SBA 504 program,” Silverman said. “Jennifer held my hand the entire way and walked me through the steps. I’m grateful for her help in getting this done.”

Adam Silverman photo Adrian Gaut Adam Silverman photo by Adrian Gaut