{"id":4355,"date":"2016-07-14T09:55:40","date_gmt":"2016-07-14T16:55:40","guid":{"rendered":"https:\/\/www.tmcfinancing.com\/\/?p=4355"},"modified":"2021-05-10T20:29:29","modified_gmt":"2021-05-11T03:29:29","slug":"sba-504-for-equipment-financing","status":"publish","type":"post","link":"https:\/\/www.tmcfinancing.com\/es\/sba-504-for-equipment-financing\/","title":{"rendered":"Heritage Solutions recurre a TMC para la financiaci\u00f3n de bienes ra\u00edces y equipos"},"content":{"rendered":"

Heritage Solutions has a simple mission: to search out customer\u00a0needs and meet them in a superior way. That attitude of collaborative\u00a0exploration has brought Heritage to the forefront of a\u00a0growing custom-packaging industry.<\/p>\n

From humble beginnings in 1983 as a distribution company for the\u00a0moving and storage industry, Heritage soon recognized an unmet\u00a0need for quality corrugated boxes.<\/p>\n

\u201cThe big guys have failed to service the market for corrugated,\u201d says owner, Owner John Tatum. \u201cThey just did it to get rid of the\u00a0paper from their mills. There was no service, graphics or quality.\u201d<\/p>\n

\"Heritage
CEO John Tatum used $7.2 million in SBA 504 equipment financing to buy a state-of-the-art precision printing press to boost production for his custom packaging business<\/figcaption><\/figure>\n

In 1999, Tatum bought into a corrugated sheet producer named\u00a0Cal Sheets. In 2008, he added a division that produced high\u00a0quality boxes with digital printing.<\/p>\n

\u201cWe do a lot of business with food, wine and beer industries, where\u00a0product packaging matters,\u201d Tatum said. \u201cFlowers are just flowers\u00a0until you put them in a box. We can now customize the box for\u00a0weddings, holidays, and even personalize it with names.\u201d<\/p>\n

To take Heritage\u2019s custom packaging capabilities further, Tatum\u00a0bought a woodworking shop, ICON Design, that specializes in\u00a0permanent wooden displays and boxes. \u201cWe do a lot in the wine\u00a0industry and this will allow us to do even more,\u201d Tatum said.<\/p>\n

Heritage has two SBA 504 loans from TMC<\/h3>\n

The first loan allowed\u00a0the purchase of the 230,000-square-foot fulfillment warehouse\u00a0they had been leasing in Lathrop, California. \u201cIn manufacturing\u00a0operations, you\u2019re going to have TIs [tenant improvements], which\u00a0means you have to invest in the building. For example, we do a lot\u00a0of fulfillment for winemakers. To do that, we need a temperature-controlled facility, or we would ruin their wine. You can\u2019t do\u00a0their business if you don\u2019t have it. And you can\u2019t do that in a rental\u00a0building,\u201d Tatum explained.\u00a0\u201cWithout the SBA\u00a0program and TMC,\u00a0we would not be\u00a0growing our business\u00a0and improving our\u00a0bottom line.\u201d<\/p>\n

The second SBA 504 loan was equipment-only: $7.2 million for\u00a0a G\u00f6pfert precision printer from Germany.<\/strong> \u201cIt allows us to do\u00a0direct print flexo,\u201d Tatum said, \u201cand get the quality of litho with\u00a0flexo speed.\u201d<\/p>\n

Tatum credits Heritage\u2019s success in part to the availability of SBA\u00a0504 financing. \u201cMuch of what we\u2019ve been able to grow has been\u00a0because we own our own building,\u201d he said. \u201cFor ICON, we needed\u00a0a paint room so particles and fumes wouldn\u2019t get all over the\u00a0building. We also made a cutting room to contain the dust. You\u00a0have to be able to do the things you need to do to be a better company and that\u2019s hard if it\u2019s not your building.<\/p>\n

\u201cWithout SBA help,\u201d<\/strong> Tatum said, \u201cwe couldn\u2019t afford to buy this\u00a0equipment. This is the best printing machine in the country and\u00a0no one else has it but us. Without the SBA and the ability to\u00a0finance over 20 years, I would have been too scared.<\/strong> If we had to\u00a0finance the machine over five to seven years like most loans, I\u00a0don\u2019t think we could have done it.\u201d<\/p>\n

Tatum keeps a close eye on cash flow. \u201cNot having to put a largedown payment down to buy this real estate really makes a difference.\u00a0You can keep cash to do other things,\u201d he said. \u201cFor example,\u00a0we bought ICON for $3 million in the middle of the $7 million\u00a0purchase for equipment. The opportunity came up and it was a\u00a0perfect fit for us. We couldn\u2019t have done that without the SBA program and TMC.<\/p>\n

\u201cToday we are in line for a $6-million order. It\u2019s an old-fashioned beer crate and without ICON and our woodshop in our own building we would not been considered capable of doing the job,\u201d he said. \u201cWithout the SBA program and TMC, we would not be growing our business and improving our bottom line.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Heritage Solutions used the SBA 504 program for both real estate and equipment financing. \u201cWithout SBA help,\u201d CEO John Tatum said, \u201cwe couldn\u2019t afford to buy this\u00a0equipment. This is the best printing machine in the country and\u00a0no one else has it but us. Without the SBA and the ability to\u00a0finance over 20 years, I would have been too scared. If we had to\u00a0finance the machine over five to seven years like most loans, I\u00a0don\u2019t think we could have done it.\u201d<\/p>","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[164,193,96,223,173,6],"tags":[],"class_list":["post-4355","post","type-post","status-publish","format-standard","hentry","category-alameda","category-east-bay","category-manufacturing","category-location","category-equipment","category-success-stories"],"acf":{"related_posts":null},"yoast_head":"\nHeritage Solutions taps TMC for real estate and equipment financing | TMC Financing<\/title>\n<meta name=\"description\" content=\"SBA 504 for equipment financing: Heritage Solutions accessed SBA 504 financing for both real estate and equipment financing.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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