FEATURED CLIENT SUCCESS STORY: Excel Test Prep Scores New Building with SBA 504 Loan from Capital Access Group
Excel Test Prep, founded in 2003, has become one of the fastest growing and successful test preparation companies in California serving students from around the world with custom, in-person and online test-taking classes and tutoring services. Excel offers classroom courses, 1-on-1 courses, online courses, and books for many standardized exams, including the SAT, SAT Subject Tests, ACT, AP Exams, GMAT, GRE, SAT, EIT & PE Professional Engineering Exams, and HSPT.
Capital Access Group assisted the Fremont-based company with financing to purchase a 27,251 sq. ft. building located at 4160 Technology Drive in Fremont, CA. Capital Access Group provided $1.305 million in SBA 504 funds of the total $3,159,367 purchase.
“We outgrew our old facility about a year-and-a-half ago. The new facility will help us handle the increased demand for our services,” said Rakhi Israni Executive Director, Excel Test Prep.
“It was a pleasure helping Excel Test Prep buy its new building using the 504 loan program,” said Jacklyn Jordan, President and CEO of Capital Access Group. “This exciting company is expecting to double in size from 25 to 50 or more employees in the next few years. The new jobs will contribute significantly to the Fremont economy.”
“The 504 loan’s low down payment made it a lot easier for us to expand,” said Israni. “The loan helped us preserve working capital to use for other parts of the business.”
“Working with Capital Access was a great experience,” said Israni. “They were easy to work with, they made everything easy, and they made sure we met all of our deadlines. I would definitely recommend them.”