Escape Adventures Secures $2.4 Million SBA Real Estate Loan From TMC Financing
As published in MarketWatch:
Escape Adventures Inc. Secures $2.4 Million SBA Real Estate Loan From TMC Financing
Las Vegas Tour Company Purchases Facility with SBA 504 Financing and Creating 18 Jobs
TMC Financing, a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that Escape Adventures Inc. has purchased a Las Vegas location with an SBA 504 loan for $ 2,437,144. The project includes a 9,792 square foot retail office space located at 10575 Discovery Drive, Las Vegas, Nevada.
“For many small businesses, SBA 504 loans provide a seamless path to building ownership,“ said Barbara Morrison, President & CEO of TMC Financing. “TMC Financing worked with Escape Adventures to take advantage of SBA 504’s below-market, fixed interest rates, allowing the company to retain significant working capital and add 18 jobs within the next 2 years.”
Ann Santiago worked with Escape Adventures Inc. 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 April SBA 504 interest rate is 4.15%, fully fixed for 20 years.
Established in 1992 by Jared Fisher, Escape Adventures provides cycling, hiking, climbing, kayaking, rafting tours and adventure vacations to gorgeous destinations including the Grand Canyon National Parks, the Mojave Desert, and the Rocky Mountains. A leader in first class, eco-friendly adventure travel, Escape Adventures boasts 16 years of experience, and offers excursions to 50 diverse locations, specializing in western North America. From their two locations in Moab and Las Vegas, the company also coordinates one day or self-supported mountain biking trips, daily guided tours, year-round bike rentals, and top-quality bike servicing and gear.
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.