As published in The Wall Street Journal:
Dataway Inc. Receives SBA Real Estate Loan From TMC Financing
San Francisco Network Security Company Acquires a Historic Office Building with SBA 504 Financing Adding Jobs to San Francisco’s Tenderloin and Mid-Market Area
TMC Financing a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada today announced that Dataway Inc. has purchased an office space in San Francisco with a 20-year fixed SBA 504 loan. The project includes a 6623 square foot office located at 255 Golden Gate Avenue San Francisco CA. The renovation of the historically significant building restores the original open plan with 20ft high ceilings and high arched windows filling the space with natural light while new glass and steel complement the red brick for a contemporary office design.
“The opportunity to purchase real estate in the city of San Francisco couldn’t be more accessible” said Barbara Morrison President & CEO of TMC Financing. “At a time when growth is so important TMC Financing enabled Dataway to purchase a historic property add renovations retain working capital and add jobs all with below-market fixed rate financing.”
David Griffis worked with Dataway Inc. to provide financing via 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 June SBA 504 interest rate is 4.52% fully fixed for 20 years.
“TMC was fantastic to work with” said Simon Lewis CEO of Dataway Inc. “We bought the building completely renovated it and moved in within nine months. We couldn’t have pulled it off without them.”
Dataway Inc. provides network security services to clients around the globe. For nearly 20 years and counting clients have relied on Dataway to design implement and maintain systems that keep up with the ever-changing security landscape. Many of their clients utilize Dataway’s Managed Service offerings to maintain security policy and network security components such as firewalls routers and switches in corporate networks and data centers. Dataway Inc. was founded in 1994 when the Internet was becoming commercialized and security threats were in their infancy. Simon Lewis CEO and founder of Dataway Inc. leads an engineering focused company with internationally recognized security and networking expertise that has helped hundreds of organizations optimize streamline and secure their networks and IT processes.
During the past 30 years TMC has provided approximately $7.2 billion in SBA 504 financing for more than 4200 businesses throughout California and Nevada. This financing has resulted in the creation of 30000 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.