As published in the San Jose Mercury News:
Equipment Manufacturer in Sunnyvale CA Secures $11.8 Million SBA Real Estate Loan from TMC Financing
Applied Physics Systems Inc. Obtains an Industrial Facility Creating and Retaining more than 100 Jobs with SBA 504 Financing
TMC Financing today announced Applied Physics Systems Inc. has purchased an industrial space in Sunnyvale CA with an SBA 504 loan for $11865000. The project features a 51017 square foot facility located at 281 East Java Drive Sunnyvale CA. The SBA 504 program has created more than 2300 jobs nationally in the 2013 fiscal year to date.
“The Bay Area industrial real estate market has shown marked improvement over the last year” said Barbara Morrison President & CEO of TMC Financing. “Applied Physics Systems benefited from the SBA 504 program by locking in a below-market fixed rate for 20 years which will finance significant construction plans at their new facility.” In the past 30 years TMC has provided financing to over 500 manufacturers with more than $430 million in SBA financing.
Bruce Whitaker Senior Vice President at TMC Financing worked with Applied Physics Systems 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. Currently the July SBA 504 interest rate is 5.22% fully fixed for 20 years.
“With the help of TMC Financing and Bank of the West our company was able to easily obtain mortgage financing to allow us to move into larger modern facilities continue to grow and attract new business” said Bob Goodman co-owner of Applied Physics Systems Inc. “The complicated process was made simple by TMC and we are definitely benefiting from a low interest fixed rate loan which will be completely paid in only 20 years. Thanks TMC for your help!”
Applied Physics Systems Inc. has been operating for over 30 years as the worldwide leader in the design and manufacture of high-performance magnetometers directional sensors and electronic systems. Founded by Bill Goodman in 1976 Applied Physics Systems has continued to develop magnetometer sensors and has since expanded operations to supply directional drilling systems electronic mechanical and computer software systems. In addition to their standard product offerings Applied Physics Systems conducts contract research for other organizations. Applied Physics Systems also designs and builds modified versions of their instruments and develops unique instruments to respond to client needs within its areas of expertise.
TMC Financing is the number one Certified Development Company (CDC) in Northern California and Southern Nevada providing Small Business Administration (SBA) 504 real estate financing in California and Nevada. During the past 30 years TMC has provided over $7.2 billion in SBA 504 financing for more than 4200 businesses including over 300 woman-owned businesses. 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 leading SBA 504 Lender in Northern California and Las Vegas. TMC’s experienced team 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 tmcfinancing.com.