TMC Financing Provides Capital for Prominent Las Vegas Tour and Travel Operator
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 Chinese Host Inc. (Chinese Host) has purchased a Las Vegas property with an SBA 504 loan for $1.2 million. The project includes a 9,105 square foot industrial facility located at 3525 West Hacienda Avenue in Las Vegas, Nevada.
“By securing SBA 504 financing to purchase a building for their business, Chinese Host gains the long-term stability that property ownership offers,” said Barbara Morrison, President & CEO of TMC. “Additionally, as a result of increased working capital gained from owning versus leasing a building, the owner expects to create 10 new jobs within a two-year time-frame.”
TMC worked with Chinese Host Inc. 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.
Chinese Host, Inc. is a registered and licensed tour and travel operator that was established in Las Vegas in 1999. The company has gained a strong reputation for being one of the leading and cutting-edge Destination/Convention Management organizations in the nation. Chinese Host is the exclusive sales agent for the Harrah’s group of hotels and the China representative for all hotels located on the Las Vegas Strip.
During the past 30 years, TMC has provided approximately $6.4 billion in SBA 504 financing for more than 3,900 businesses throughout California and Nevada. This financing has resulted in the creation of over 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.