What began as a vision for community healing is now rooted in a building of its own, thanks to SBA 504 financing.
A Space Where Healing Happens
When Tim Cox and his fellow founders opened Azend Hot Yoga & Wellness in Wilsonville, Oregon, they weren’t simply launching another yoga studio.
They wanted to create a place where people could come together, feel supported and prioritize their well-being.
“The vision for the business is to offer a community space for people to come together to heal,” says Cox.
That vision extends well beyond yoga. Azend offers hot and warm yoga classes alongside cryotherapy, red light therapy, hyperbaric oxygen therapy, esthetic treatments, workshops and community events — all designed around physical, mental and spiritual well-being.
At the heart of the business is a belief that wellness happens more easily when people feel connected.
“We are all facing so many stressors that inhibit our ability to heal,” Cox explains. “Healing escalates in a healthy community. We wanted a place where all people feel welcome, whether they’re a first-time yogi or just beginning their wellness journey.”
The response made it clear that the space was becoming exactly what they had envisioned.
“So many people have told us, ‘This space feels like home,’ or, ‘It’s so relaxing here,'” Cox says. “Hearing those comments is music to our souls.”
From Office Space to Wellness Destination
That sense of home took considerable work to create.
The building at 30470 SW Parkway Avenue began as a traditional office space. Over the course of a year, the Azend team transformed it into a wellness destination built around movement, recovery and connection.
The more they invested in the property, the harder it became to imagine building their future there without actually owning it.
“It was imperative that we bought the building because we had put so much work into making it ours,” Cox says. “It is no longer an old office space. It has become such a special place for people to come and either start or continue their health journey.”
Ownership would give Azend something a lease couldn’t: long-term control over the space and the freedom to continue shaping it around the company’s mission.
“Having control of the building was crucial,” Cox says. “Thinking that one day a landlord could change the narrative of what we are building would be devastating.”
It also opened the door to a bigger vision. Cox and his partners hope to bring other wellness-focused businesses into the property, creating opportunities for fellow entrepreneurs while giving clients access to complementary services under one roof.
“We wanted to bring other healing businesses into the building,” Cox says. “Supporting other small businesses is a goal of ours as well.”
Making the Leap from Leasing to Ownership
Turning that vision into ownership required the right financing.
Azend’s $2.65 million project, which included the real estate acquisition, tenant improvements and equipment, was financed using the SBA 504 loan program. TMC Financing’s Anna O’Brien worked with Jacquline Ritchie of Harvest Commercial Capital to structure the financing.
For a newer business without years of operating history, securing financing for a commercial real estate purchase can be especially challenging.
“Startup businesses are tough for financing,” Cox says. “How can you prove your capabilities when you haven’t opened your doors yet? The SBA takes a look at the plan and considers many factors.”
That flexibility can make the SBA 504 program particularly valuable for newer businesses. While SBA 504 financing can require as little as 10% down, businesses operating for two years or less generally contribute a minimum of 15% equity. The program also provides long-term, fixed-rate financing, helping business owners preserve more of their capital for operations and future growth.
For Azend, that structure helped make it possible to purchase the property the team had already invested so much in transforming.
“Communities are built on small businesses,” Cox says. “Without SBA, many of us would not have the chance to fulfill these business dreams that we’ve been talking about for years.”
SVP, Business Development
For O’Brien, the project is a strong example of what ownership can mean for a growing business.
“Azend had already invested so much into transforming this building and creating a space their community truly connected with,” says O’Brien. “SBA 504 financing gave them the opportunity to protect that investment and make the property permanently theirs. Now they have the stability to keep building on what they’ve created and growing their impact in the community.”
Growing Alongside the Community
With a permanent home secured, Azend’s ambitions extend well beyond the building itself.
Through involvement with the Rotary Club, local farmers markets, women-owned business groups and the West Linn Chamber of Commerce, the team has become increasingly connected to the surrounding community.
Those relationships have also changed how Cox thinks about growth.
“It’s funny how goals change as you dive into a project,” Cox says. “Originally, the goal was to get people into our space and let them know we were open. As we’ve become involved in the community, we’ve realized that the goal is really to build relationships. The original goals naturally happen because of those relationships.”
For Cox, who has spent a lifetime around family businesses, the uncertainty that comes with entrepreneurship is familiar. So is the reward.
“What a journey,” Cox says. “It’s tough to pull the trigger and there are some sleepless nights, but the reward is amazing.”
Looking ahead, the focus remains on the same mission that inspired Azend from the beginning: creating a place where people can connect, prioritize their well-being and feel at home.
“I feel that this business will succeed because of the people we are surrounded by,” Cox says. “And SBA gave us this opportunity.”
What began as an old office building has become something very different: a place people come to move, recover, connect and heal.
And now, it’s a place Azend can call home for years to come.