Capital Access Group was thrilled to help Victoria Yelensky and Lourdes Esquivel, co-owners of Gymworld, secure $2,225,300 in total project financing to purchase an 8,326 square-foot building at 3040 Kerner Boulevard in San Rafael, CA.
Victoria was born in Ukraine and was a competitive gymnast in the former U.S.S.R. and represented Ukraine in international competitions. Lourdes was born in Mexico and competed in national and international competitions on the Mexico National gymnastics team. The women founded Gymworld in 1999 to pass on their love for gymnastics and the sport’s benefits to children aged 20 months to 18 years. Together, Victoria and Lourdes created a business that is “a great asset to the community,” according to Victoria.
The women had been leasing space in the building for five years prior to purchasing. When the previous owner decided to sell, they knew they had to make their move. “The building is our competitive advantage,” said Victoria. “It has a high ceiling, skylights, and beautiful windows, and when people come in, they’re impressed and they want to start lessons. So, buying this building was critical for our business.”
“The SBA 504 loan saved us,” said Victoria. “We saved $200,000 to $300,000 on the down payment that we could use to invest in new equipment and improvements that will help us grow the business.”
“When the previous owner decided to sell the building, Victoria and Lourdes had to act fast, and they needed the low down payment, long-term financing the 504 loan program makes possible,” said Cara Rudy, Vice President, Capital Access Group. “Now they have the pride of ownership and extra space to expand the business and create more jobs in the future.”Read More