Los Angeles Freight Service Obtains Industrial Space for $1.3 Million with SBA 504 Loan

March 12th, 2013

Los Angeles Freight Service Obtains Industrial Space for $1.3 Million with SBA 504 Loan

As published in Synacor

Los Angeles Freight Service Obtains Industrial Space for $1.3 Million with SBA 504 Loan

Transcargo International Receives SBA 504 Funds From 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 Transcargo International has purchased a property in Los Angeles with an SBA 504 loan for $1,300,000. The project features 26,416 square feet of industrial space on West 62nd Street in Los Angeles, California.

“Interest rates continue to remain low, which allows more businesses to consider purchasing property for expansion,” said Barbara Morrison, President and CEO, TMC Financing. “Transcargo International worked with TMC to obtain a large industrial space for their growing operations via the SBA 504 loan program. With the help of 504 financing, Transcargo will have fixed costs for 20 years on the new property at a below-market interest rate.”

Rodney Kojima, Vice President – Business Development of TMC Financing, worked with Transcargo International 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 March SBA 504 interest rate is 4.29%, fully fixed for 20 years.

Transcargo International was established in 1996 by owner Mario Chavarria. Mr. Chavarria serves as the general manager and oversees all aspects of the day-to-day operations. Transcargo International is a logistics provider for cargo transportation. Services include transportation via air or ship and storage options.

About TMC

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.