Featured Client Success Story: Baydelta Maritime’s Newest Tugboat, DeltaAudrey, Sets Sail with $10.4 Million SBA 504 Financing Package

San Francisco-based Baydelta Maritime provides tugboat escort services for petroleum tankers and cargo vessels entering and departing the San Francisco Bay and its tributaries. The company, which has been updating its fleet since 2007, leveraged the SBA 504 program to acquire the newest member of its fleet, the Delta Audrey.

Capital Access Group helped Baydelta secure $10.4 million in total project financing for the Delta Audrey. The new tugboat, a powerful, 100 foot, 85-ton (6,800 horsepower) tractor tugboat, features the most modern design, engines, and equipment to increase safety, reduce fuel consumption and carbon emissions, and provide increased capability to stop or redirect a tanker in shorter distances.

“The SBA 504 loan program is a great fit for Baydelta Maritime,” said Jacklyn Jordan, President and CEO of Capital Access Group. “The 504 program provides access to low down payment, fixed-rate, long-term financing, which freed up capital for Baydelta to use for other purposes. In addition to creating new jobs, the Delta Audrey will increase shipping safety and efficiency in the San Francisco Bay.”

“Our experience with Capital Access Group has been exceptional,” said Shawn Bennett, General Manager, Baydelta Maritime. “Alan Jung (SVP & Chief Credit Officer) and Tom Parini (Loan Officer) were outstanding in terms of guidance and looking at all the data we kept throwing their way and helping us put it all together. It’s really been a great experience for us.”

Click here to read the full story and here to enjoy a video with highlights from the christening of the Delta Audrey.

Featured Client Success Story: Building Ownership Provides Universal Herbs, Inc. With Peace of Mind and Room to Grow

Universal Herbs (www.herbspro.com), an online seller of vitamins, herbal supplements, and natural cosmetics, was recognized recently by Inc. Magazine as one of the fastest growing internet retail companies. But the company’s growth was inhibited due to lack of space for inventory. And because Universal Herbs was still leasing space, they lacked flexibility to make changes necessary to increase productivity.

Everything changed when Capital Access Group helped the business secure $893,625 in total project financing to purchase a 6,353 square foot building located at 1817 Addison Way, Hayward, CA. Capital Access Group financed $369,000 and Citibank provided $447,000 for the project.

“We now own the building. That’s a big change for us,” said Tanu Bhattacharya, Director for Marketing and Operations, Universal Herbs. “We can have it designed in a way that creates efficiencies for the business.”

“We also benefit from the 504 program’s terms and low down payment. It gives me peace of mind,” said Bhattacharya. “The low down payment preserves funds to develop our team, invest in technology, and stock up on inventory.”

“It’s such a joy to help a growing business like Universal Herbs purchase their first building,” said Jacklyn Jordan, President and CEO of Capital Access Group. “Building ownership will stabilize their costs, protect the business from rent increases, and make it easier for Universal Herbs to maximize efficiency and make long-term investments in their fast-growing business.”