TMC Financing makes building ownership easy for Tough Media
TMC Financing today announced the owners of Tough Media Corp. financed the purchase of a 7,250-square-foot building at 24333 Narbonne Avenue in Lomita, California using the U.S. Small Business Administration 504 real estate loan program. The building, which previously housed a karate school, will serve as the professional athlete management agency’s corporate headquarters, as well as a training center for Tough Media-affiliated Black House team fighters. The total project cost is $900,000.
“We got a great deal on the building and were able to buy it under market value,” said Ed Soares, Tough Media president. “In the end, our payments are cheaper than our previous lease, so financially it’s a smart move. The building will increase the assets of our business since over the next few years it will only increase in value.
“The loan process was awesome,” Soares said. “Some people complain that SBA financing is a headache, but it was smooth for us. We got it done in one meeting. It didn’t really even feel like a process it was so easy and seamless.”
“Hasmik Byers at City National Bank was our partner for the first mortgage,” TMC Financing SVP Ron Coomes said. “It was rewarding to work together to help such a unique small business take that next step in their growth process. Owning your own building really stabilizes occupancy costs, plus the low down payment of the SBA 504 program frees up capital for other uses.”
Tough Media represents elite mixed martial arts fighters, including Lyoto Machida, currently the top-ranked UFC Middleweight and former UFC Middleweight Champion Anderson Silva.