Featured Client Success Story: Ginko Home Furnishings Purchases 6,500 sq. ft. Retail Facility in Mountain View with 504 Financing Through Capital Access Group
Capital Access Group recently helped Gingko Home Furnishings, a designer, manufacturer, and retailer of solid walnut furniture for the modern home, access $2,828,300 in total project financing to purchase a 6,500 sq. ft. facility at 2496 West El Camino Real in Mountain View, CA.
Gingko, founded in 2001 by husband-and-wife team Jerry Hsia and Sarah Chang, has two retail outlets in the Bay Area, one in Mountain View and another on Valencia Street in San Francisco’s popular Mission District. The 504 loan provided the company with the capital to purchase the Mountain View retail location it had been leasing for years.
“We were glad to take advantage of the opportunity to lock ourselves into this marketplace,” said Sarah Chang, Vice President and Co-owner, Gingko Home Furnishings. “For us this purchase was a double win because the building was a known entity. We were already leasing the property, so we knew it was a good location. Now we have control over a key part of the business.”
“Originally, I thought the process would be slow and bureaucratic, but Capital Access Group was nimble, proactive, and market conscious,” said Chang. “In the end, the process was extremely smooth, and we were grateful to have partnered with them.”
“The 504 loan to Gingko Home Furnishing exemplifies one of the most important benefits of the SBA 504 program,” said Jacklyn Jordan, President and CEO of Capital Access Group. “The loan allowed Sarah and Jerry to own a building they had been leasing for many years. Owning the building will stabilize their costs, protect them from rent increases, and enable them to maximize efficiency and make long-term investments in their business.”