TMC Financing Helps Family-Owned Manufacturing Business Get Capital to Expand
As Published in: Enhanced Online News
Nevada Precision Sheet Metal Inc. Leverages SBA 504 Loan to Purchase $1.4 Million Facility April 03, 2012
TMC Financing, a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that Nevada Precision Sheet Metal Inc. (NPSM) (www.npsminc.com) has purchased a Las Vegas, Nevada property with an SBA 504 loan from TMC. NPSM’s project includes a 28,000 square foot manufacturing facility located at 3546 Procyon Street, Las Vegas, NV.
“TMC is committed to doing what we can do to strengthen family-owned manufacturing businesses that are hiring people and contributing to an economic rebound.”
“Owning your building is a good idea,” said Barbara Morrison, President and CEO, TMC. “TMC provides access to the most attractive financing available to enable small business owners, like the Ygnelzi family, to buy their building with minimal cash expenditure so they can maintain their focus on growing and adding new jobs.”
TMC worked with NPSM to provide 90% 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.
NPSM is a family-owned and operated business started by Emilio Ygnelzi in 1999. Emilio’s management team includes his son Gianni and daughter Susan.
“TMC is committed to doing what we can do to strengthen family-owned manufacturing businesses that are hiring people and contributing to an economic rebound,” said Morrison.
Nevada Precision is a manufacturing fabricator from paper prints or electronic files, and works with the full range of raw materials: steel, stainless steel and aluminum sheet, tube, angle and channel, copper sheet and bar, and spring steel. NPSM’s clients include casinos, state and local governments, commercial metal contractor supply houses and small customers including residential gate/fencing installations.
During the past 30 years, TMC has provided approximately $6.4 billion in financing for more than 3,900 businesses throughout California and Nevada. This financing has resulted in the creation of 27,000 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 or http://www.sba.gov.