TMC Financing Provides SBA 504 Loan To All-Cal Insurance Agency
Insurance agency purchases office in downtown Roseville location
Roseville, CA (April 2014) TMC Financing worked with Community First Bank in Auburn to finance a $451,000 project for All-Cal Insurance Agency in Roseville. Jim Azevedo, based in Roseville, served as TMC’s loan representative for the transaction.
“The SBA 504 program helped our company organize our financial situation for better future growth.” said Mike Esparaza, Vice President for All-Cal Insurance. “We are able to take control of our future. TMC was great, and helped us understand everything along the way.”
The financing package was used to purchase and make improvements to a commercial building comprising 4,300 square feet on 8,832 square feet of land. The site provides the agency with fixed occupancy expense, as well as the security of a long term location. All-Cal Insurance Agency’s new location is now open for business at 505 Vernon Street.
About SBA 504 Loans
The U. S. Small Business Administration (SBA) created the 504 loan program in 1980 to provide financing for successful, growing small and medium-sized businesses. Loan proceeds can be used to purchase, renovate or construct commercial real estate properties, or for the acquisition of equipment that has a life expectancy of 10 years or more.