San Francisco Property Management Firm Secures SBA 504 Loan From TMC Financing
As published in Market Watch:
San Francisco Property Management Firm Secures SBA 504 Loan From TMC Financing
The Azari Group Real Estate, Inc. dba Azari Property Management Leverages SBA 504 Financing to Purchase $893,000 Office Space and Create Jobs
TMC Financing, a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that The Azari Group Real Estate, Inc. has purchased a San Francisco building with an SBA 504 loan for $893,000. The project includes a 2,900 square foot office space located at 521 Gough Street, San Francisco.
“With the growing demand for office space in San Francisco combined with low interest rates many business owners are rushing to secure real estate while it’s still available,” said Barbara Morrison, President and CEO of TMC Financing. “TMC has been an advocate for businesses like The Azari Group in the Bay Area for over 30 years by offering access to SBA 504 real estate financing. With a 504 loan, The Azari Group expects to retain working capital and plans to add more than 20 new jobs in the next two years.”
David Griffis, Senior Vice President – Business Development at TMC Financing, worked with The Azari Group 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 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.
Established in 2006 by Manzar Azari, The Azari Group specializes in property management with services including in-house maintenance, 24/7 availability, routine property inspections, and frequent communication with both owners and tenants to provide the excellent customer service they are known for. The Azari Group was recognized as one of the Top 100 Fastest Growing, Privately Held Companies in the Bay Area for 2012 by the San Francisco Business Times.
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.