Barbara Morrison has been a trailblazer of Bay Area finance since the beginning of her career. She has played a part in creating prosperity for tens of thousands of people.
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“What appealed most to us about SBA 504 financing was the 10 percent down payment. If we had to come up with a down payment of 35-40 percent, it may not have made sense for the business,” says Roebbelen COO Rob McLean
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“Owning is really the way to go because you get to depreciate the building in a tax-advantaged way,” says Stephen Pixley, owner of AutoCrib, Inc., who purchased a $7.75 million manufacturing facility with the help of TMC’s SBA 504 loan.
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Electric vehicle charging stations, energy-efficient lighting and water conservation measures helped the Robert T. Eglet Advocacy Center in Las Vegas qualify for $5.5 million in SBA 504 financing. “A conventional loan would have meant 20 percent or more out-of-pocket from our working cash,” Eglet said. “With TMC, we don’t have as much risk.”
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“The business is growing and we’re feeling established and solid. We have TMC to thank for that feeling of stability. Working with TMC was a game-changer.”
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Heritage Solutions used the SBA 504 program for both real estate and equipment financing. “Without SBA help,” CEO John Tatum said, “we couldn’t afford to buy this equipment. This is the best printing machine in the country and no one else has it but us. Without the SBA and the ability to finance over 20 years, I would have been too scared. If we had to finance the machine over five to seven years like most loans, I don’t think we could have done it.”
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“There were so many reasons for the banks to say no. It’s non-flagged, ground-up construction in a remote area, needing all of its own infrastructure, following the economic recession and just after the Rim Fire. Without the SBA piece from TMC, we couldn’t have gotten this done.”
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“Working with TMC was like having an expert field guide taking you thought a thick jungle. In the real estate business, you are working within a short window of time. In a hot market like San Francisco, I can’t tell someone I need six months. I need the right person to get the job done and that’s TMC,” says James Beard Award-winning restaurateur Charles Phan of The Slanted Door Group in San Francisco.
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Soon small business owners will be able to refinance conventional commercial real estate loans with the attractive rates and terms available through TMC’s SBA 504 loan program.
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With the passage of the omnibus bill to fund the federal government for the remainder of FY16, Congress permanently reinstated SBA 504 debt refinance.
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