Thanks to the SBA 504 program, Marcus Alvarez and Eric Pestana, the founders of Steadfast Construction, Inc., are now the proud owners of a new, 2,704 square foot warehouse space in Pleasanton, CA.
Marcus and Eric always kept their business “lean and mean,” and they held off on leasing a warehouse space until absolutely necessary. But as soon as they leased their first space, they realized they needed even more space to accommodate growth. The company currently has 15 employees and expects to double in size within the next two years.
Eric and Marcus now feel secure about the future, but they probably wouldn’t have been able buy their own building without the SBA 504 loan.
“What the 504 loan enabled us to do was to be able to put ten percent down on a warehouse that wasn’t going to break the bank,” said Alvarez. “The 10% down payment was a huge factor for us.”Read More