As published in Yahoo! Finance:
Lake Industries Inc. Receives $3.1 Million SBA Real Estate Loan to Create and Retain 22 Jobs with Help from TMC Financing
Kitchenware Wholesaler Purchases an Industrial Space in Henderson NV through the SBA 504 Financing Program
TMC Financing a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada today announced that Lake Industries Inc. has purchased an industrial facility in Las Vegas NV with an SBA 504 loan for $ 3100000. The project includes 42311 square feet located at 7735 Commercial Way Henderson NV.
“Industrial facilities are increasing in demand and it is imperative that resources are available to businesses like Lake Industries to capitalize on owning such a space” said Barbara Morrison President & CEO of TMC Financing. “Lake Industries was presented with the opportunity to purchase an industrial facility to expand their wholesale operations. With a loan from TMC Lake Industries created 3 new jobs and retained 19 employees all at a secured below-market fixed rate for 20 years.”
Ann Santiago worked with Lake Industries 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.
“Working with Ann Santiago and the team at TMC has been a terrific experience” said Saville Kellner President and CEO of Lake Industries Inc. “TMC gracefully guided us through a process which frankly I expected to be overwhelming. They made the entire funding of this investment simple. Thank you TMC for helping to fund and support our growth.”
Lake Industries Inc. was started by Saville Kellner in 1994 in Glendora CA under the name of Nutri-Stahl Inc. In 2011 the business relocated to Las Vegas NV under the new corporation of Lake Industries Inc. The company is an international leader in the wholesale supply of kitchenware focusing on providing a network of authorized distributors with high quality products. Lake Industries provides stainless steel cookware small kitchen appliances kitchen accessories cutlery and residential water filtration to over 800 distributors and resellers in over 30 countries.
About TMC
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.