TMC Financing (TMC) is pleased to announce the premiere of Rooted in Legacy, a video tribute that highlights what truly motivates small business owners to succeed. The production features entrepreneurs Claudio Mariani, Juliana Coy Sommer, and Amod Chopra, and sheds light on why small business owners work tirelessly day in and day out.
Rooted in Legacy reveals that for these small business owners, it is not only their passion for their products that allows them to thrive but their desire to leave behind an impactful legacy. Their motivation stems from what they hope to build, not just for today but for decades to come.
Mariani, Sommer, and Chopra have all purchased buildings for their businesses using a Small Business Administration (SBA) 504 loan from TMC Financing. By utilizing the SBA 504 Program, these business owners could preserve cash, stabilize their operating location, and lay the foundation of their future legacy.
SBA 504 Loan Program: The Next Step Towards Securing Your Small Business Legacy
For Mariani, Sommer, and Chopra, purchasing their buildings through the 504 Program was vital in creating a lasting business legacy. The SBA 504 loan is specifically designed to allow small-to-medium-sized businesses to purchase real estate with unbeatable terms. This affordable and accessible commercial real estate loan offers down payments as little as 10%, coupled with a below-market, 25-year fixed interest rate.
Owning property allowed all three entrepreneurs to mitigate rising lease rates, acquire the necessary space for expansion, and preserve precious working capital to reinvest into their growing businesses.
How They Did It
While all three business owners utilized the SBA 504 Program to improve their business, their stories and results are unique.
Claudio Mariani, Owner, Mariani Antiques
Claudio Mariani secured an SBA 504 loan to purchase a 7,250 square-foot building in San Francisco, CA, for his antique and restoration business. Mariani prides himself on being a 3rd generation antique dealer specializing in renowned high-end antiques from 17th, 18th, and 19th century Europe.
By purchasing his property, Mariani can expand his inventory and preserve his place within the local community to ensure stability for the future.
Juliana Choy Sommer, Owner, Priority Architectural Graphics
Juliana Choy Sommer, the owner of Priority Architectural Graphics, utilized the SBA 504 Loan Program to purchase an 8,800 square-foot condo/warehouse in Redwood City, CA. What is unique about Sommer’s 504 journey is that she was able to buy the building of one of her competitors and take over their corner of the industry, ensuring Priority Graphic’s future success.
Priority Graphics started in 1995 as a small company specializing in producing nameplates. The business has expanded its production to provide end-to-end creation and installation of signage for the manufacturing industry.
Amod Chopra, Owner, Vik’s Restaurant & Wholesale
Amod Chopra owner of Vik’s Restaurant & Wholesale in Berkeley, CA, has five SBA 504 loans with TMC Financing, and his business is thriving. In 2012, Chopra secured his first SBA 504 loan to purchase his wholesale unit, for which he distributes goods and materials to other Indian restaurants in the area.
As his business grew, Chopra utilized the 504 Program to buy properties for his retail unit, restaurant, and an adjacent parking lot. Vik’s also took advantage of TMC Financing’s SBA 504 Refinance Program , which allowed Chopra to refinance an existing commercial real estate loan for lower payments and better terms. He could also access cash that was trapped up in his real estate.
More about TMC Financing
TMC Financing is a non-profit Certified Development Company with a mission to promote economic development and job creation for small businesses in Arizona, California, Nevada and Oregon. Since 1981, TMC has secured more than $10 billion in SBA 504 commercial real estate financing for over 6,000 small businesses resulting in the creation of an estimated 60,000 jobs.
Contact TMC to learn more about the benefits of the SBA 504 Loan Program.