In the industry since 1995, Brian Connors opened Peak Landscape with a vision to provide the highest level of service and customer care to homes and businesses throughout Truckee & North Lake Tahoe, CA. Now, Peak is a full-service landscaping company that aims for excellence, with more than 40 employees in the field in any given season.
Licensed in tree work and fencing, Connors strives to ensure that his company can meet all their client’s outdoor service needs. Peak has recently expanded its services to include tree removal, limbing, treatment & stump grinding.
The landscaping industry is highly seasonal and notoriously challenging, especially when it comes to finding the right staff and machinery. As a result, shoring up costs and eliminating uncertainty are keys to long-term success.
To optimize productivity and maintain long-term stability, Connors bought a commercial property for Peak Landscape with a 10-year owner finance “Balloon” loan. The acquisition ensured that operation was centralized, which led to faster turn-around times and heightened customer satisfaction.
However, there was still a nagging financial issue in the back of Connors’ mind – the oncoming balloon payment. Connors still had years of payments left on this loan, but he knew that significant expense was looming.
“It was always in the back of my mind,” Connors explained. “I constantly had my eye out for an alternative financing option. But often, I would get so wrapped up in work, the last thing I could do is deal with the situation.”
As the date drew nearer, he reached out to his bank, and they recommended he connect with TMC Financing (TMC) and take advantage of the Small Business Administration’s (SBA) 504 Refinance Program.
SBA 504 Refinance Program Positioned Peak Landscape to Grow with Favorable Rates
The SBA 504 Refinance Program is a unique financing option that allows small business owners to refinance fixed assets, such as commercial real estate or equipment, with only 10% down and a below-market interest rate, fixed for 25 years.
Not only can businesses lower their monthly payments, but owners even have the option to leverage their building’s equity and take cash out for eligible business expenses, such as salaries, rent, utilities or inventory. This is a fantastic way to consolidate and restructure existing debt while also accessing equity in your building and there are no balloon payments.
Jim Azevedo, TMC’s senior vice president who worked with Conners, recommended refinancing with a 504 loan because the terms are unbeatable and almost any owner-occupied property will qualify.
“Working with Jim and TMC was great,” said Connors. “Everything was smooth, communication throughout the entire process was clear. It was just like a team – whenever paperwork was required, Jim and his staff were on it. It was seamless.”
Azevedo helped Connors navigate the SBA 504 refinancing process, providing a no-stress path to more favorable real estate financing.
“Get Creative” with Financing Options Including SBA 504, Says Brian Connors of Peak Landscape
What would Brian Connors say to other business owners in the landscaping industry?
“Be willing to pivot and get creative. I probably could have stayed with my original loan, it seemed easy because it was owner-financed. But it was worth taking the extra time to find TMC Financing and the SBA 504 program. Things can fall into place quickly once you take the first step towards financial security.”
To learn more about SBA 504 financing or get started with SBA 504, contact TMC Financing.
About TMC Financing
TMC Financing is the no. 1 provider of SBA 504 commercial real estate loans in the Western Region of the U.S., helping small businesses expand throughout California, Nevada, and Arizona.
Founded in 1981, TMC is the number one certified development company in the West and has funded projects worth more than $10 billion across California, Nevada, and Arizona. About 6,000 businesses have benefited from this financing, resulting in the creation of an estimated 60,000 jobs.