San Leandro Property Acquired by Industrial Lighting Company for $1 Million with SBA 504 Loan

April 9th, 2013

San Leandro Property Acquired by Industrial Lighting Company for $1 Million with SBA 504 Loan

As published in Market Watch:

San Leandro Property Acquired by Industrial Lighting Company for $1 Million with SBA 504 Loan

CalCoast-ITL Receives SBA 504 Funds for Industrial Property through 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 CalCoast-ITL purchased an industrial property in San Leandro with a SBA 504 loan for $1,000,000. The project showcases a 10,605 square foot industrial space at 683 Thornton Street & 630 Williams Street, San Leandro, California.

“We are seeing evidence that many small businesses in the Bay Area are flourishing, especially those in the technology and industrial sectors,” said Barbara Morrison, President and CEO, TMC Financing. “CalCoast-ITL is a prime example of a small business that needed financing to expand operations in the East Bay’s growing industrial hub. The SBA 504 loan program ensures CalCoast-ITL will preserve working capital and be able to add the jobs needed to accommodate their expansion.”

Kurt Chambliss, Senior Vice President – Business Development at TMC Financing, worked with CalCoast-ITL 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.

CalCoast-ITL is owned and operated by Mark A. Evans. Mark joined the CalCoast-ITL team as a test engineer in 1988 and soon was managing the lighting division – a perfect fit for the UC Berkeley graduate with a degree in physics. Within the last 10 years, Mark was able to purchase the company, outright, as the sole proprietor. CalCoast-ITL specializes in compliance testing to numerous regulations and specifications for lighting and high-visibility products. The company works closely with state and federal officials in determining safe and effective lighting for land, air and sea. From certification and compliance testing, to product development and expert legal testimony, CalCoast-ITL serves over 200 clients from across the globe. CalCoast- ITL has over 50 years of experience in the automotive lighting industry.

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.