Katrina Inc. Leverages SBA 504 Financing to Purchase Las Vegas Office
As Published in: Market Watch
SAN FRANCISCO, Jul 13, 2012 (BUSINESS WIRE) — TMC Financing (TMC Financing ), a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that Katrina Inc., Alternative Management, DBA has relocated to a facility purchased with an SBA 504 loan from TMC. The project included the building purchase of the 5,585 square foot office building located at 1880 E. Warm Springs Road in Las Vegas, Nevada.
“SBA 504 loans provide an easy path to building ownership for most small businesses,” said Barbara Morrison, President & CEO of TMC Financing. “By requiring only 10% down, and offering below-market interest rates, business owners are able to fix their costs for long-term stability and growth potential.”
TMC worked with Katrina Inc. to provide financing via 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. The SBA 504 loan for Katrina Inc. included funds for tenant improvements enabling the business to renovate the office to meet their specific needs.
Katrina Inc. was started in 1998 and is an association management firm providing full-service management, special events planning, organization review and goal setting for non-profit associations.
Katrina Bruce, Founder and President of Katrina Inc., has received several awards and recognitions including NAIOP’s Chapter Merit Award for Outstanding Contribution by a Chapter Executive in 1996, 2008 and 2012, and the 2008 Women of Distinction Diamond Award by NAWBO Southern Nevada.
During the past 30 years, TMC has provided approximately $6.4 billion in financing for more than 3,900 businesses throughout California and Nevada. This financing has resulted in the creation of 27,000 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 TMC Financing or SBA