Bay Area Manufacturer Acquires Berkeley Location with SBA 504 Financing

March 20th, 2013

Bay Area Manufacturer Acquires Berkeley Location with SBA 504 Financing

As published in Yahoo! Finance:

Bay Area Manufacturer Acquires Berkeley Location with SBA 504 Financing

LevGo, Inc. Obtains $904,230 SBA 504 Loan from TMC Financing

TMC Financing, a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that LevGo, Inc. has purchased a Berkeley location with an SBA 504 loan for $940,230. The project includes a 5,274 square foot commercial space located at 1801 Martin Luther King Jr. Way, Berkeley, California.

“With today’s low interest rates, many business owners are turning to SBA 504 financing to support plans for expansion,” said Barbara Morrison, President and CEO, TMC Financing. “LevGo, Inc. worked with TMC to obtain a new office building for their growing operations through the 504 loan program. With the help of 504 financing, LevGo will have fixed costs for 20 years on the new property at a below-market interest rate.”

Kurt Chambliss, Senior Vice President – Business Development at TMC Financing, worked with LevGo, Inc. to provide financing through the SBA 504 commercial real estate loan program. SBA 504 financing offers businesses below-market, fixed rate financing for the acquisition, renovation or construction of commercial real estate. SBA 504 loans provide long-term stability for businesses with the ability to retain working capital which can be used to further grow the business and create new jobs. The March SBA 504 interest rate is 4.29%, fully fixed for 20 years.

Founded by Margret Leventhal and Kent McCue in 2008, LevGo, Inc. is a wholesale supplier of easy-to-use laboratory tools. The company began when Leventhal invented the smartSpatula, a disposable, inexpensive, single-use lab tool, while working at Investigen, Inc.. She licensed the smartSpatula tool from the company, and left to form LevGo, Inc..

About TMC

During the past 30 years, TMC has provided approximately $7.2 billion in SBA 504 financing for more than 4,200 businesses throughout California and Nevada. This financing has resulted in the creation of 30,000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade, and is the number one SBA 504 Lender in Northern California and Las Vegas. TMC’s experienced staff works directly with borrowers, first mortgage lenders and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower’s credit capacity. For more information, visit http://www.tmcfinancing.com.