SBA 504 loan makes buying a building “feasible” for Shamrock Moving & Storage, a second-generation, family-owned business

Founded in San Francisco in 1975 by Bob and Barbara Fallon, Shamrock Moving and Storage has grown from a one-truck operation to an enterprise that conducts roughly 3,000 moves each year. Building ownership has been a big contributor to the company’s success, according to Bob and Barbara’s son, Bobby Fallon, who is now the General Manager of the Business.

“Shamrock started with my dad, one truck, and my mom in the office,” said Fallon. “Basically, it stayed that way until we made our first building purchase in 1995 with the help of the SBA. Once we did that, we had a lot more confidence expanding the business knowing that our rent couldn’t be raised. It just gave a level of stability that really took the company to the next level.”

Capital Access recently helped Shamrock access $10.35M through the SBA 504 program to buy a second property, a 43K-sf office and warehouse facility in South San Francisco, to further expand the business.

“The SBA loan makes buying a building feasible,” according to Fallon. “It makes it possible for a regular business like ours to have a chance to come up with the capital for the down payment. If we had to put down a regular 20 to 30 percent on a commercial property, it wouldn’t be happening.”

“This is the second loan I’ve done with Claudia (Cohen), and it’s been great,” said Fallon. “To someone like me, who doesn’t do this every day, you need someone who is knowledgeable and responsive and can walk you through the process. Claudia went through the paperwork with me and made it a lot easier by coming into my office and meeting with me in person. She is always responsive, and she’s very knowledgeable.”

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Artistic Stone buys “dream place” in San Leandro

Capital Access Group recently made it possible for Yang and Junhong Jiang, owners of Artistic Stone Kitchen & Bath, Inc., to secure $4.7M in SBA 504 financing to buy their “dream place,” a 13-sf, office-warehouse property in San Leandro, CA.

The husband-and-wife team started their property search nearly ten years ago. That was when they first met Claudia Cohen from Capital Access Group. But the Jiangs were forced to put their property search on hold while they retooled the business during the Great Recession. They remerged stronger and more focused, and they also restarted their property search.
 
It took the Jiangs 10 years and a lot of searching to find the right space, but once they did, they knew just who to call for a financing solution.
 
“By my experience, Capital Access is the one to go to, really,” said Yang.
 
The 504 loan’s low down payment was important, too. “The ten percent down payment made all the difference. That’s the greatness of the SBA,” said Yang. “I wouldn’t be able to afford the 20 percent down payment required by most commercial banks, period.”

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Building Block Interiors “takes next step” with purchase of new HQ and showroom in Fremont

Buying a property was “the next step as a business” for Brett Collins and Dan White, founders of Building Block Interiors. Capital Access Group helped Brett and Dan take that step with a $1.65M 504 loan to purchase an industrial condominium in Fremont, CA.

The property offers ample storage space, meeting rooms, and a showroom where clients can review drawings and see furniture options “right on the spot,” according to Brett. “This new building allows us to minimize the cost on our end and makes us more profitable,” said Brett.

Brett and Dan heard about the SBA 504 loan program through a colleague in the industry, and the low down payment and low interest rates cemented their decision to proceed with the purchase.

“The low down payment was a big driver, and then obviously, as cheap as the interest rates are now, that was also attractive,” said Brett.

Read the full story here.

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Owner of Laser Eye Center of Silicon Valley buys $8.35M building he had been leasing thanks to the SBA 504 loan program

Dr. Craig Bindi, the owner of Laser Eye Center of Silicon Valley, was tired of paying rent to someone else, but thanks to Capital Access Group and the SBA 504 loan program, he now owns the property he was leasing. He also feels more secure about his retirement.
 
“It feels great to own the property, because for a long time we were paying rent to someone else. I love the fact that I can own the building that we work in every day, and as the landlord, we’re paying ourselves. I think this will ultimately be the biggest part of my retirement.”

Capital Access helped Bindi secure $8.35M in financing through the 504 program to purchase the 12,944-sf building in a transaction Bindi described as “reassuring” and “efficient.”
 
“The entire process was efficient,” said Bindi. “Every interaction that we had with Claudia (Cohen) was reassuring and professional. Because of her good relationships with the banks, we had three banks that we were able to consider.”
 
In addition to the service he received from Capital Access Group, Bindi also appreciated the 504 program’s low down payment.

“It’s a high-ticket item, so being able to come in with such a low amount of principal, it very well might not have happened if it weren’t for that,” said Bindi. “That was the difference between making me feel comfortable with this and not wanting to do it. This was attractive, and it worked.”

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Marin County family business Point Reyes Farmstead Cheese wins 2019 Small Business of the Year award

Point Reyes Farmstead Cheese Company has been named 2019 Small Business of the Year by the U.S. Small Business Administration’s San Francisco District Office. The award will be presented May 8 during San Francisco’s annual Small Business Week celebration, according to a May 1 announcement by Capital Access Group. It was the SBA 504 lender […]

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Capital Access was pleased to help the owners of South Bay Allergy and Asthma Group, Inc. (SBAAG), to secure $1.8M through the SBA 504 program to purchase two contiguous condominium units in a multi-unit medical complex in San Jose, CA, to expand their business. The 504 loan, according to Anlin Xu, M.D., SBAAG’s Senior Partner “was a deal-changer,” primarily due to the low down payment.

Dr. Xu was also pleased with the service she received from Capital Access Group—and SVP and Chief Credit Officer Alan Jung in particular, who “responded fast and treated us with professionalism 100% of the time.”

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Three Brothers Furniture, a second-generation, family-owned business, buys new building in Vallejo, CA

Capital Access Group was thrilled to help Three Brothers Furniture, a proud member of the Vallejo business community, to secure $1M in financing to purchase a 22K-sf building on a 57K-sf foot parcel, to grow their business and consolidate operations under one roof.

Founded by Lew and Lora Glenn in 1952, Three Brothers has been a staple in the Vallejo community, providing good quality furniture at a fair price. Today, the company is led by Lew and Lora’s son, Gary, and his wife Julia and son Justin.

“We’re a completely family-owned business that delivers on what we say,” said Julia Glenn, Co-Owner, Three Brothers Furniture. “We believe in offering the best customer service, and we want to be able to keep growing and expanding so we can continue to be a strong part of Vallejo’s community.”

Three Brothers’ growth was constrained by a showroom that was “just getting too small,” according to Julia, plus, their warehouse was in a separate location. “The new facility, originally built as a furniture store, has a warehouse and a showroom all designed together,” said Julia. “It’s really going to be a fabulous move for us.”

When it came to financing the purchase, the choice was obvious. “If we did not go through this SBA program, there is no way we would have qualified for any other loan,” said Julia. “We had a great credit rating; we just didn’t have the down payment cash that we needed. All our equity was invested in our inventory.”

The Glenns were also amazed by the fast turnaround on their 504 loan. “We had to close the loan on this building in roughly six weeks,” said Julia. “Facilitating an SBA loan in six weeks seems unheard of, and yet Claudia (Cohen) at Capital Access Group made it so simple and so comprehensive. They really bent over backwards. We were in constant contact and it was fabulous to have that level of support.”

“In the end, we’re buying a bigger unit that enables us to sustain the business with the same expenses we had before,” said Glenn. “It’s invigorating to finally have a future we can forecast.”

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Pacific Coast Custom Interiors purchases auto repair facility in Santa Rosa and achieves a sense of security in the aftermath of the Tubbs Fire

PCCI is a family-owned business led Ryan and Evan, second-generation upholsterers who spent the early part of their lives apprenticing under their mother, Elaine Nelson, who continues to work in the business. Having the business on more solid footing was especially important for the Nelson family after the devastation wrought by the October 2017 Tubbs Fire in Northern California. Ryan and Elaine lost their homes, and Evan was displaced when the wildfire devastated their Coffey Park community in Santa Rosa.

“It feels like I’m living in someone else’s shoes,” said Ryan. “The peace of mind for our family, knowing that nobody can kick us out or raise our rent, and the stability of having that kind of long-term position in our market, for me, it’s just amazing knowing that every dollar we put into it just keeps it in our family.”

The Nelsons liked the SBA 504 loan’s low down payment and competitive interest rates, and they were also impressed with the “due diligence” they received from Jenny Tice, Business Development Officer, Capital Access Group. “Jenny is one of the best people I’ve ever worked with on any business deal or customer service-related transaction in my life,” said Ryan. “She anticipated everything possible that could complicate or slow the process down. Her due diligence, skills and knowledge, and truthful commitment to getting this done–honestly I don’t feel like it would have happened without her.”

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Founder of Genius Kids leverages the 504 program to buy an administrative facility, setting her up for growth and success

“What I liked about the whole program is not the program as much as the people—working with the Capital Access Group team—they really guide you and advise you. They’re setting you up for success.”
—Rennu Dhillon, President & Founder, Genius Kids

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Owners of Starline Social Club avoid “a catastrophic moment” by purchasing their building with SBA 504 funds before their lease expired

Capital Access recently helped the owners of Starline Social Club to secure $2.4M in total project financing to buy the building they were leasing, a three-story, 8,519-s.f., historic, Victorian building located in Oakland. Artists Adam Hatch and Drew Bennett, and restauranteur Sam White, co-founders of the Starline Social Club, are passionate about investing in the Oakland community. The trio leased the original site of the Order of Odd Fellows Lodge, an unconventional building in disrepair, and transformed it into a safe and inclusive bar, restaurant, and social art space with multiple venues and event spaces for live music, dancing, jazz, karaoke, and more, all under one roof. “As we were founding the business and renovating the space, we were excited about the idea of trying to buy the building,” said Drew Bennett, Co-Director, Starline Social Club. “A lease expiring is often a catastrophic moment for a business. When the opportunity arrived, we knew we had one shot to make an offer.” Starline’s team of business advisers recommended the SBA 504 loan, primarily for its low down payment, and referred them to Alan Jung, SVP and Chief Credit Officer at CapitalAccess Group, to facilitate the process.

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