{"id":23260,"date":"2024-07-18T09:42:06","date_gmt":"2024-07-18T16:42:06","guid":{"rendered":"https:\/\/www.tmcfinancing.com\/?p=23260"},"modified":"2024-07-31T15:03:54","modified_gmt":"2024-07-31T22:03:54","slug":"tommy-tsunami-surf-school","status":"publish","type":"post","link":"https:\/\/www.tmcfinancing.com\/es\/tommy-tsunami-surf-school\/","title":{"rendered":"Tommy Tsunami Surf School Rides a Wave of Success with an SBA 504 Loan"},"content":{"rendered":"

\"\"<\/a><\/h2>\n

Half Moon Bay, CA<\/strong> – Combining lifelong passion with business acumen is a sure way to achieve entrepreneurial success \u2013 and when you add commercial real estate ownership to the mix, you can create a long-term strategy to build additional revenue and long-term wealth. That\u2019s where brothers Tommy and Pete Lundgard find themselves and their thriving business, Tommy Tsunami Surf School<\/a>.<\/p>\n

Financiamiento TMC<\/a> helped them secure an Pr\u00e9stamo SBA 504<\/a> to purchase property and, as a result, they\u2019re creating operational efficiencies, stabilizing costs, and adding revenue streams today while building a foundation for long-term financial security.<\/p>\n

Small start, big plans<\/strong><\/p>\n

Tommy and Pete are lifelong surfers in California\u2019s Half Moon Bay area. Before launching their business, Pete was a California State Parks lifeguard who ran the Junior Guards program, while Tommy studied business and launched a successful clothing brand from a plan he developed for a collegiate Shark Tank-style pitch competition. Naturally, both also taught surfing on the side.<\/p>\n

After pooling resources, the brothers opened their school in 2018 with $8,000 and a plan to teach surfing to people of all ages. They formed an LLC, bought equipment \u2013 including surfboards and wetsuits \u2013 built a website, and got insurance. Soon, Tommy Tsunami was bringing the joy of surfing to residents and visitors alike. Today, Tommy Tsunami teaches surfing to more than 1,000 people each year and regularly fills week-long sessions of their summer surf camps for kids to capacity.\"\"<\/a><\/p>\n

Pandemic-driven engagement<\/strong><\/p>\n

When the pandemic set in, they had to shut down for a time but, as an outdoors-only venture, they were soon able to reopen \u2013 and business boomed.<\/p>\n

\u201cWhile the initial shut-down was hard, we actually experienced a huge boom in 2020 and we had to scale quickly,\u201d Tommy explains. \u201cIt was a pivotal year of working on the business, hiring employees, and reinvesting in gear, staff, and storage. We learned on the fly and it was great to offer something where people could get in the water, enjoy the fresh air, and just have fun.\u201d<\/p>\n

Today, in addition to Tommy and Pete, there are about 21 staff in teaching, management, and operational roles.<\/p>\n

Growth brings space challenges \u2013 and opportunities<\/strong><\/p>\n

\"\"<\/a>
Tommy & Pete Lundgard, Owners, Tommy Tsunami Surf School<\/figcaption><\/figure>\n

As their business scaled, their need for space did, too.<\/p>\n

Tommy credits his business mentor, Tom McGuirk, for helping Tommy and Pete understand the importance of securing commercial property for Tommy Tsunami and for introducing them to the advantages of SBA loans<\/a>. SBA 504 loan benefits include low down-payments of just 10-15%, compared to conventional commercial mortgages that require 30-40% down. In addition, they come with fixed interest rates and repayment terms up to 25 years, which makes it easier to afford the monthly payments while gaining the benefits of property ownership.<\/p>\n

\u201cWe were storing our equipment at various places, including our parents\u2019 garage,\u201d Tommy says. \u201cIt was really inefficient in terms of time and cost and we wanted to buy property, but it\u2019s really expensive and competitive here, so we were shut out from a lot of opportunities.\u201d<\/p>\n

While in college, Tommy had met Bruce Whitaker, Senior Vice President of Business Development for TMC Financing<\/a>. As the brothers were searching for properties, Tommy reached out to Bruce because he\u2019s got years of experience helping small business owners secure commercial properties through TMC and the SBA 504 program.<\/p>\n

When they finally found a property that met their business goals and financial parameters, Bruce guided the deal from start to finish.<\/p>\n

\u201cWhile the 10% down payment makes purchasing property viable for small businesses like ours,\u201d Tommy says, \u201cif you qualify for as SBA 504 loan, there\u2019s no reason to buy your commercial property with any other financing option, because there are so many benefits. And we were able to buy land, which is pretty much unheard of for other real estate loans.\u201d<\/p>\n

With their property purchase, the brothers constructed a new equipment-storage facility near the beach which houses the gear for their surf school and enabled them to add a new revenue stream \u2013 equipment-storage space to rent to people in the area.<\/p>\n

TMC Financing\u2019s experience made the difference<\/strong><\/p>\n

In addition to the SBA 504 loan\u2019s benefits, Tommy notes the stellar guidance they received from Bruce and the entire TMC team.<\/p>\n

\"\"<\/a>
Bruce Whitaker, SVP Business Development<\/figcaption><\/figure>\n

\u201cOur experience with Bruce and TMC was a 10-out-of-10. Real estate projects run into snags and when ours did, Bruce\u2019s experience, communication, and willingness to go above and beyond were invaluable,\u201d Tommy says. \u201cHe was totally supportive, which was incredible from a lender and even more unexpected because, in terms of California real estate, this was a relatively small deal at $240,000, even if it was huge for us.\u201d<\/p>\n

\u201cMotivated clients make the whole process more enjoyable,\u201d Bruce says about TMC\u2019s work with Tommy and Pete. \u201cThey\u2019re terrific entrepreneurs \u2013 on-the-ball, responsive, and wise when it comes to launching a successful business and growing a satisfied clientele. I was excited for the opportunity to help them acquire property. This deal was the perfect example of what the 504 loan is designed to do.\u201d<\/p>\n

Get in touch to learn how TMC Financing can help you<\/strong><\/p>\n

Tommy brings up an important point for all small business owners to consider.<\/p>\n

\u201cAs entrepreneurs, we don\u2019t have the security of a 9-to-5 job with a retirement plan and we can\u2019t save our way to wealth. We have to build assets, but the majority of small businesses never sell because they don\u2019t have the right asset mix,\u201d he explains. \u201cHaving real estate on your balance sheet is crucial for its long-term valuation \u2013 it has incredible benefits for your business now and for you in the long run. You can experience yield from cash flow and leverage equity and, eventually, you don\u2019t even have to be in business, you can just gain income from your real estate. That\u2019s why more small business owners need to know about the SBA 504 loan program. I can\u2019t recommend it, or TMC, highly enough!\u201d<\/p>\n

If your business is located in TMC Financing\u2019s service area of California, Arizona, Nevada, Hawaii, and Oregon,\u00a0Cont\u00e1ctenos<\/a>\u00a0to get started. And if your business is located outside of our service area, try the\u00a0SBA\u2019s Lender Match tool<\/a>\u00a0to find a qualified certified development company (CDC) lending partner near you.<\/p>\n

Acerca de la financiaci\u00f3n de TMC<\/strong><\/p>\n

Founded in 1981, TMC Financing is the leading provider of SBA 504 commercial real estate loans in the nation, funding projects worth over $14 billion across Arizona, California, Nevada, Hawaii, and Oregon. Over 7,000 businesses have benefited from this financing, resulting in the creation of an estimated 60,000 jobs.<\/p>","protected":false},"excerpt":{"rendered":"

Half Moon Bay, CA – Combining lifelong passion with business acumen is a sure way to achieve entrepreneurial success \u2013 and when you add commercial real estate ownership to the…<\/p>","protected":false},"author":3,"featured_media":23262,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[189,186,6],"tags":[380,8871,8867,320,8789,369,8869,8870],"class_list":["post-23260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fitness","category-san-mateo","category-success-stories","tag-380","tag-land","tag-property","tag-sba","tag-sba504","tag-small-business","tag-surf","tag-surf-school"],"acf":{"related_posts":false},"yoast_head":"\nTommy Tsunami Surf School Rides a Wave of Success with an SBA 504 Loan<\/title>\n<meta name=\"description\" content=\"TMC Financing helped surf school secure an 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