TMC Financing Helps Wholesale Food Distributor Access Capital
As Published In: Yahoo Finance
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 Win Woo Trading, LLC has purchased a Hayward, California property with an SBA 504 loan from TMC. The business used SBA 504 financing to purchase a 110,280 square foot building located at 31056 San Luis Obispo Avenue in Hayward, California.
“Owning your building is a smart investment for any business,” said Barbara Morrison, President and CEO of TMC. “By taking advantage of available SBA 504 financing, Win Woo Trading gained long-term stability along with the ability to expand their storage and warehouse space to accommodate growth.”
TMC worked with Win Woo Trading 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. The current interest rate for June 2012 is 4.33%, fully fixed for 20 years.
“One important goal of the SBA 504 program is to promote economic development through job retention and growth” Said Morrison. “Win Woo Trading currently employs 30 people and anticipates adding 10 new jobs in the next two years as a result of obtaining SBA financing to purchase the new facility.”
Win Woo Trading, a wholesale food distributor, was established in 2004. The company distributes over 2,500 food and baking products to 350 restaurants primarily in Northern California, with a small number in Reno, Nevada.
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 TMC Financing or SBA