Bear Label Machine, Inc Buys their Building with an SBA 504 Loan from TMC
Northern California Label Machine Company buys building in Gold River, CA
Bear Label Machine, Inc is a family run business that strives to provide customers with high quality and dependable label machines. Kirk and Ellie Schliger, a husband and wife team, have owned and operated the company for over 25 years. Kirk is an officer and in charge of the design and engineering team. The company sells custom handmade computer controlled label machines that place labels on cans at a high speed, tailored to the client’s specific product needs. They sold their first machine in 1991 and sales have been growing ever since. With so much growth, the company decided to secure their business by purchasing the building they were operating out of.
The couple’s real estate broker, Jim Stephens with TRI Commercial, informed the Schligers of the 504 program and connected them with Jim Azevedo of TMC Financing. “Working with Jim was great. I worked with at least a dozen bankers and agent on this project and Jim was by far the most pleasant to work with,” said David Engellenner, son of Kirk and Elie Schliger and General Manager of Bear Label Machine, Inc. Originally, they were considering the SBA 7(a) program but they ultimately chose the 504 loan because it best suited their repayment schedule.
The Schligers were able to obtain the 504 funding they needed to purchase an 8,900-square foot building in Gold River, CA, which will provide them with a long term and stable operating location.
“The loan is a great help to us,” explained David. “Being able to secure a permanent home for our business was very important to us. We can now concentrate on running and expanding the company and not worry about the cost of rent always going up or if we were going to be forced to relocate at the end of a lease.”
In addition to the great terms the 504 Program offers, Kirk received a further discount with our Vet Loan Advantage Program, created to reward and thank veterans for their service. To show appreciation for Kirk’s service, he was offered a $3,000 rebate.
TMC is excited to offer the Veteran Loan Advantage Program to our deserving veterans. This strategic initiative complements the SBA’s efforts to increase SBA 504 loans to veterans by 5 percent each year for the next five years. We want to thank all veterans for their service, whether you served decades ago or are just reentering the civilian workforce.