VetLoan Advantage Program
R.P. Coatings, Inc. a Hayward, CA-based industrial flooring services company founded in 1982, needed space to grow. Owner Ron Nemeth wanted to take advantage of the recent construction boom in Hayward, but instead was spending his time worrying about where to store things and how to maintain his inventory.
Nemeth leveraged the long-term fixed interest rates and low down payment offered by the SBA 504 loan program to purchase a 10,000 square foot property located at 2474 American Avenue, Hayward, CA. As a U.S. Veteran, Nemeth was also able to qualify for a rebate from Capital Access Group’s 504 VetLoan Advantage Program to offset loan expenses.
“Owning the building allows me to focus more on getting work than on worrying about where I’m going to store things and how I am going to maintain inventory. I can respond to my customers more quickly,” said Nemeth.
“Veterans like Ron make up a large number of successful small business owners, and this program acknowledges their contributions to our country,” said Jacklyn Jordan, President and CEO of Capital Access Group.
The loan is expected to create 10 new jobs in the Hayward community. “The 504 loan allowed us to get a larger facility with less capital, which will allow us to grow, take bigger contracting jobs, and hire more people. It’s just a good deal all around,” said Nemeth.