Hyundai’s Only auto shop buys buildings
As seen in the Las Vegas Review-Journal
Hyundai’s Only, a Las Vegas-based auto repair shop, has purchased three buildings it had been leasing in southwest Las Vegas. With the help of TMC Financing and a Small Business Administration 504 loan, the company owns 12,275 square feet of service bays and storage facilities at 5410 Spring Mountain Road. TMC Financing provided $537,000 of the project’s $1.3 million cost. The balance of the loan was provided by City National Bank.
When Kelly Collins’ landlord of 16 years decided to retire and sell her auto shop’s three buildings, the owner of Hyundai’s Only had two choices: to purchase the buildings and start building her own equity or take a chance that a new landlord would be as great as her previous one.
“This was one of the few loans we have funded in which all participants were women,” said Ann Santiago, senior vice president of TMC Financing’s Las Vegas division. In 2014, TMC Financing was the largest SBA 504 lender in Nevada. Hyundai’s Only specializes in all major repairs of Hyundai vehicles as well as some other makes of cars. The company has been in business for 20 years and leasing its current location for the past 16.
City National Bank’s June Abbott, Hyundai’s Only owner Kelly Collins and TMC’s Ann Santiago