Humangear Designs Space to Grow with SBA 504 Loan
As seen in RealEstateRama
TMC Financing provides funding for $5 million project in San Francisco’s Upper Haight District
TMC Financing today announced the owner of humangear, inc. and Pawgear, Inc. DBA Paww financed the purchase of a 6,725-square-foot iconic creative space at 636 Shrader Street in the Upper Haight area of San Francisco, with a 20-year, fixed-rate SBA 504 real estate loan. The nearly $5 million total project cost includes the purchase price and building renovations.
“San Francisco is an active market,” Chris Miksovsky, owner and chief executive human at both companies, said. “If you’re going to be here for a long time, which we plan to, there’s some argument for making the investment and owning the place you work. Both of our companies are intently design-focused, so we wanted an opportunity to have our workspace reflect that. The new building has great character and we’re doing a significant renovation to craft a space more fitting of our design aesthetic and ethos and that everyone will be excited about and will enjoy working in.”
Miksovsky said getting pre-qualified for the SBA 504 program through TMC Financing made a difference in buying the building. “We had a letter all prepared and submitted it with our offer,” he said. “I have to believe it helped. The sellers claimed to have had an all-cash offer too, so knowing the financing was in place and wouldn’t be a problem was nice.”
Financing the building went smoothly, according to Miksovsky, because David Griffis, SVP at TMC Financing, told him what to expect. “Dave was very helpful in advising and explaining how the process worked,” Miksovsky said. “He gave us a number of scenarios and even had recommendations and input on the bank we chose. I would recommend TMC to other business owners in the same position.”
Humangear makes “real gear for real humans” —simple, functional products designed to make everyday life, travel easier, more enjoyable and, perhaps, delightful. Paww makes smart, innovative products for dogs and their owners. “We try to make our products not only different, but better, Miksovsky said. “It’s gratifying a lot of people enjoy our products and we try to work in that spirit.”
Humangear has seven main product lines and many patents. Their gear is available at online at www.humangear.com and at various outdoor/sporting/recreational/mass retailers, including Recreational Equipment, Inc., Target, Bed Bath & Beyond, Container Store, Whole Foods, Walgreens, and elsewhere. Paww is sold widely on Amazon.com, Paww’s own webstore and paww.com, and at numerous independent pet shops domestically and abroad.