San Francisco Editing Company Acquires Office Space for $1.18 Million with SBA 504 Loan
As published in Yahoo! Finance
San Francisco Editing Company Acquires Office Space for $1.18 Million with SBA 504 Loan
Papercheck, LLC Obtains SBA 504 Funds From TMC Financing To Expand Operations
TMC Financing, a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that Papercheck, LLC has purchased a property in San Francisco’s SOMA district with an SBA 504 loan for $1,180,000. The project features a 1,875 square foot office space at 664-666 Natoma Street, San Francisco, California.
“With the growing demand for office space in San Francisco, more business owners are looking to secure real estate as quickly as possible while interest rates remain low,” said Barbara Morrison , President and CEO, TMC Financing. “TMC has been an advocate for businesses like Papercheck in the San Francisco Bay Area for over 30 years. With our help Papercheck now has fixed costs allowing them to retain working capital for future growth and add jobs.”
David Griffis, Vice President – Business Development of TMC Financing, worked with Papercheck, LLC 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 January SBA 504 interest rate is 4.04%, fully fixed for 20 years.
Papercheck, LLC was established in March 2001 by its founder Darren Shafae. The company provides professional document editing and proofreading services to writers of all levels, over the internet. The firm’s global network of editing and proofreading professionals deliver top quality services at reasonable prices and with fast turnaround times.
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.