As published in CBS Moneywatch:
Minority Owned Manufacturer in Fremont CA Will Create 20 Jobs with $5.75 Million in SBA Real Estate Financing from TMC Financing
Photo U.S.A. Corporation Purchases an Industrial Facility with the SBA 504 Financing Program
TMC Financing the number one Certified Development Company (CDC) in Northern California and Southern Nevada providing Small Business Administration (SBA) 504 real estate financing throughout California and Nevada announced that Photo U.S.A. Corporation has purchased a new industrial space in Fremont CA with an SBA 504 loan which required only 10% down. The purchase for $5750000 showcased a light-industrial manufacturing warehouse of 78000 square feet on 5.9 acres at 46595 Landing Parkway Fremont CA.
“The first quarter of 2013 brought the East Bay industrial market to its strongest showing since the credit crisis” said Barbara Morrison President & CEO of TMC Financing. “Photo U.S.A. was able to take advantage of today’s low interest rates to support their continued growth. The optimism and energy within the market is evident especially with Photo U.S.A. planning to add 20 jobs to their current workforce of over 35 all with the assistance of SBA 504 financing.”
Kurt Chambliss worked with Photo U.S.A. Corporation 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. SBA 504 loans provide long-term stability for businesses which allows them to retain working capital which can be used to further grow and create new jobs. The June SBA 504 interest rate is 4.52% fully fixed for 20 years.
Photo U.S.A. Corporation was established in 1992 as the world’s leading manufacturer of sublimation-coated ceramic products; such as mugs tiles plates and ornaments. Run by James and Anna Peng Photo U.S.A. sets the standard for the photo gift industry with new product innovations annually. Providing imprinting services for distributors and wholesalers for more than 20 years Photo U.S.A. prides themselves on their variety of services to clients of all sizes both domestically and internationally.
TMC has financed more than 25% of minority-owned businesses throughout its entire portfolio. During the past 30 years TMC has provided approximately $7.2 billion in SBA 504 financing for more than 4200 businesses throughout California and Nevada. This financing has resulted in the creation of 30000 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.