Capital Access was pleased to help Maple Trade Corporation, a wholesaler of “to-go,” eco-friendly, plastic and paper food storage containers, access $11.5M to purchase a 53,413-sf warehouse building to expand operations in the U.S.
Maple Trade was founded 14 years ago by Tsing Ng, who grew up in China with a family history rooted in the manufacturing trade. Tsing always loved machines, according to his wife, Kelly Chen, CFO of the company, and he recognized the opportunity to gain a foothold in the food container industry.
Today, with environmental concerns at the forefront, Maple Trade is moving into food packaging and storage products that are eco-friendly and reduce plastic use. The new space will be integral to the growth of the company’s biodegradable and compostable paper container products division, and it will enable the company to increase its workforce by 25 percent.
The SBA 504 loan’s 90% financing combined with the program’s historically low interest rates made the purchase possible.
“We went to the bank exploring a conventional real estate loan, and the bank referred us to Capital Access Group and the SBA 504 program,” said Kelly. “The monthly payment is low, so we can afford it; and the down payment is less than the conventional loan, so we have more capital to import more goods. The SBA 504 loan helps cash flow a lot.”
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