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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