{"id":22709,"date":"2024-01-17T06:49:38","date_gmt":"2024-01-17T14:49:38","guid":{"rendered":"https:\/\/www.tmcfinancing.com\/?p=22709"},"modified":"2024-02-02T14:17:04","modified_gmt":"2024-02-02T22:17:04","slug":"groceries-4-less","status":"publish","type":"post","link":"https:\/\/www.tmcfinancing.com\/es\/groceries-4-less\/","title":{"rendered":"An SBA 504 Loan Secures Property and More for Groceries 4 Less"},"content":{"rendered":"

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For Bryan Solus, the owner of Groceries 4 Less!<\/a> \u2013 a popular Modesto, CA-based discount grocery store \u2013 the opportunity to buy his store\u2019s commercial property came years after he bought the business. \u201cI knew that buying the property would help me manage my store\u2019s long-term occupancy costs and, as the years went on, it also became important for my own financial foundation,\u201d Bryan says.<\/p>\n

Here’s how Financiamiento TMC<\/a> helped Bryan purchase the property and achieve both financial goals \u2013 gaining control over business expenses while investing in his long-term financial well-being \u2013 with an SBA 504 loan<\/a>.<\/p>\n

Leveraging a real estate opportunity
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\nBryan has been a part of the Groceries 4 Less! family for 16 years, starting as its operations manager when he was eighteen years old. When his friend, who was also the store\u2019s previous owner, offered to sell it to him in 2014, Bryan jumped at the opportunity.<\/p>\n

\u201cI always enjoyed the grocery business and this community, so it was an easy decision,\u201d Bryan says. Around late 2022, Bryan had another great opportunity \u2013 to purchase the 17,000-square-foot grocery-store property. For him, this decision was easy, too.<\/p>\n

\u201cI knew that owning the building and having a predictable monthly payment was better than paying rent<\/a>.\u201d he says. \u201cAnd I also knew it was time to start thinking about my own long-term financial security. Owning this property is a huge step in building a more secure retirement<\/a>. "<\/p>\n

The SBA 504 loan program makes it possible<\/strong><\/p>\n

Bryan\u2019s friend \u2013 the store\u2019s previous owner \u2013 told Bryan about TMC and the SBA 504 loan program. When Bryan heard about the program\u2019s low down-payment requirement \u2013 just 10% of the project total, instead of 30-40% that conventional commercial loans require \u2013 he was sold. In addition, the SBA 504 loan includes a fixed interest rate, a 25-year amortization, and the option to refinance with another SBA 504 loan<\/a> if\/when interest rates decline.<\/p>\n

Bryan connected with TMC Senior Vice President and Business Development Officer Jim Azevedo,<\/a> who was excited to help make Bryan\u2019s vision of owning the property a reality.<\/p>\n

SBA 504 deals include SBA-guaranteed financing up to $5 million, with no predetermined limit on the overall project cost. The loan structure includes:<\/p>\n