Featured Client Success Story: Aquatech Swim School Secures Financing for New, Olympic-Class Facility in Alameda, CA
Aquatech Swim School was formed in 2006 by Stephen Moore and Adrienne Mattos to deliver the “Mattos Method” of swimming instruction. The Mattos Method was created by Adrienne, a former all-American swimmer at Cal, to allow students to learn at their own pace through a consistent exercise schedule that delivers benefits in and out of the pool. Stephen, Aquatech’s CFO and CTO, rounds out the husband-and-wife ownership team with his background in finance, management, and quality assurance.
Capital Access Group helped Aquatech secure a $3.899 million financing package to purchase a 10,246 square foot building on a 187,000 square foot parcel at 2203 Mariner Square Loop, Alameda, CA. Capital Access Group financed $1.123 million and Bridge Bank provided $1.950 million in financing. The project included $1.4 million for tenant improvements to incorporate Olympic-class systems and equipment and to provide waiting parents with a café, comfortable seating, a picnic area, and free Wi-Fi.
According to Stephen, “The 504 program definitely helps with the barrier to entry. Even with our track record of growth year over year, it was hard to prove to a financial institution that we were worthy of this large of an investment. The 504 program really opened the door for us to grow, create jobs, and serve the community.”
“It’s no longer just a theory that we could grow our business—it’s a proven element,” said Moore. “Since we opened the new facility, our business has increased by over 40%, and we’ve already hired about 25 people.”
Stephen was especially pleased with the service he received from the Capital Access Group team, which he described as “informative, transparent, supportive, and very patient.”
“Capital Access Group and the avenue of SBA financing made it possible for me to think realistically about what I could do with the business without taking up all my time from improving the business and serving our customers.”
“I’m grateful for that approach,” he said. “Good teamwork really makes a difference.”
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