A common dilemma among small business owners is whether to buy or lease commercial property in today’s market, a decision can be especially difficult in competitive real estate markets like those of California.
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TMC recently helped hoteliers Vikas Patel, Chotubhai Patel and Tejal Patel, secure $5.4M in total project financing. The funds were used to purchase two hotel properties in Napa. By utilizing multiple SBA 504 loans, the Patel’s were able to obtain 80% hotel financing at a below market rate, fixed for 25 years.
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“Catering is not just a necessity anymore, it has to be a highlight of the event, especially here in Las Vegas,” said Alex Barnett, one of three owners of Cut and Taste and a University of Nevada, Las Vegas graduate.
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Should you Buy or Lease Space for your Franchise? Owning a franchise over your own small business has benefits – such as a successful business model already mapped out, resources…
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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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