Building a Sustainable Catering Business with a 504 Loan: The Story of Left Coast Catering

Left Coast Catering owner Laurine Wickett loves to create memorable occasions, bringing people together over delicious food. She’s been doing just that for over two decades in San Francisco.

After renting in several different locations, she obtained help with a small business loan through Capital Access Group to buy a building in San Francisco’s Bayview neighborhood. Laurine was able leverage the SBA 504 program to secure $1,668,872 in total project to purchase a 5,000 square-foot building at 1400 Yosemite Ave.

“I would not have been able to afford to buy a building without the 504 loan,” Laurine said, noting the usual 20-30 percent down that a commercial lender would require.

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Building ownership gives San Rafael-based Gymworld “a sense of freedom.”

Capital Access Group was thrilled to help Victoria Yelensky and Lourdes Esquivel, co-owners of Gymworld, secure $2,225,300 in total project financing to purchase an 8,326 square-foot building at 3040 Kerner Boulevard in San Rafael, CA.

Victoria was born in Ukraine and was a competitive gymnast in the former U.S.S.R. and represented Ukraine in international competitions. Lourdes was born in Mexico and competed in national and international competitions on the Mexico National gymnastics team. The women founded Gymworld in 1999 to pass on their love for gymnastics and the sport’s benefits to children aged 20 months to 18 years. Together, Victoria and Lourdes created a business that is “a great asset to the community,” according to Victoria.

The women had been leasing space in the building for five years prior to purchasing. When the previous owner decided to sell, they knew they had to make their move. “The building is our competitive advantage,” said Victoria. “It has a high ceiling, skylights, and beautiful windows, and when people come in, they’re impressed and they want to start lessons. So, buying this building was critical for our business.”

“The SBA 504 loan saved us,” said Victoria. “We saved $200,000 to $300,000 on the down payment that we could use to invest in new equipment and improvements that will help us grow the business.”

“When the previous owner decided to sell the building, Victoria and Lourdes had to act fast, and they needed the low down payment, long-term financing the 504 loan program makes possible,” said Cara Rudy, Vice President, Capital Access Group. “Now they have the pride of ownership and extra space to expand the business and create more jobs in the future.”

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Young and Borlik Architects Purchases New HQ in Los Altos, CA, with SBA 504 Loan

Young and Borlik Architects, a full-service architecture firm, has been in business since 1989, primarily doing residential projects—from small additions to large estates—throughout the Bay Area. “The expectations for residential architecture in the Bay Area are very high, as is the availability for top people, and for top quality construction and materials,” said Andrew Young, CEO, Young and Borlik Architects, Inc. “It’s a great place to be doing architecture.”

But the Bay Area wasn’t the ideal place to be leasing office space. Over the years, the firm has leased three different locations and has been at the “mercy of the real estate market,” according to Young.

That all changed when Capital Access Group helped the firm secure $1,935,000 in total project financing to purchase a 2,811 square foot building in Los Altos, CA.

“We were so pleased to provide Young and Borlik Architects with the financing they needed to purchase their own building with the SBA 504 loan program,” said Jacklyn Jordan, President and CEO, Capital Access Group. “After leasing for nearly 30 years, owning the building will help the firm control costs, which will make it easier to plan for the future.”

Young said that he and his partners are thrilled with the loan and what it has allowed them to do. “Getting our own space, and getting our own building has given us the ability to plan for the future, to not be at the mercy of other economic influences,” he said.

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Aby’s Custom Upholstery Secures SBA 504 Financing to Buy a Building in San Jose

Aby’s Custom Upholstery has plenty of room to grow in their new, 2,704 square foot building at 545 Horning St. in San Jose, CA, thanks in part to an SBA 504 loan from Capital Access Group.

Aby’s Custom Upholstery has been in business since 2003 serving residential and commercial customers in Los Gatos, Los Altos, Saratoga, and throughout the Peninsula and South Bay, and receiving more than one hundred 5-star reviews on CEO Abigail (Aby) Figueroa has been sole owner of the business since 2012.

“Giving my employees a place that is safe and secure is important. Being able to secure my company’s location is everything,” said Aby Figueroa, CEO, Aby’s Custom Upholstery.

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Capital Access Group donates $20,000 to Renaissance Entrepreneurship Center

Capital Access Group is pleased to announce that we have provided a $20,000 grant to support the Renaissance Entrepreneurship Center. Renaissance provides business training and support services, access to resources, and networks for business owners. Capital Access Group’s grant will be used to fuel Renaissance’s women programs, access to capital workshops, and Small Business-Big Impact, Renaissance’s annual event.

“We are so appreciative of Capital Access Group’s generous grant,” said Sharon Miller, CEO, Renaissance Entrepreneurship Center. “Capital Access has an amazing, 30-year track record of supporting California small businesses. We’re thrilled to partner with them, and we’re also excited about the opportunity to collaborate with them on access to capital events. We look forward to working with them over the coming year.”

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$11.2 million project allows Best USA to create up to 25 new jobs with an SBA 504 loan

Best USA Logistics, Inc., a Milpitas, CA-based, third-party logistics company, will be able to accelerate growth, create efficiencies, and launch two new lines of business in their brand new building thanks to an SBA 504 loan arranged by Capital Access Group that financed the $11.2 million purchase.

Best USA leveraged the SBA 504 program to purchase an 83,525 sq. ft. building located at 675 Sycamore Drive, Milpitas CA. The new facility will support the creation of 20-25 new jobs.

“I’m so appreciative to the team at Capital Access Group,” said Lillian Chang, Owner and Group President, Best USA. “They were friendly, efficient, professional and helpful with our SBA loan application. I would give them the highest rating possible. They are the best!”

Click here to read the full story.

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Our Client, Equator Coffees & Teas, featured in Inc. Magazine article, “Meet the Coffee That All the Cool Tech Kids Drink”

Capital Access Group gets a mention in Inc. Magazine. Our client, Equator Coffees & Teas, the SBA’s 2016 National Small Business of the Year, was featured in Inc. Magazine, and the article mentions how Equator leveraged the SBA 504 program to scale their business. It also focuses on the inroads Equator is making with the West Coast tech community, not only for their amazing coffee, but also for their business model, which focused on sustainability, impact, and giving back.

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Jacklyn Jordan, President & CEO of Capital Access Group, featured in North Bay Business Journal

Jacklyn Jordan, President & CEO of Capital Access Group, was recently featured in the North Bay Business Journal. She mentions recent news at Capital Access Group, a recent favorite lending story, and leaders that inspire her.

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SBA Administrator visits Equator’s Market Street location for press conference

Administrator Contreras-Sweet called Helen and Brooke “impact entrepreneurs” as she presented them with the SBA award on behalf of President Barack Obama at their Market Street location on Friday, May 6.

“We wanted to close out National Small Business Week celebrating entrepreneurs with a double bottom line, those who make an impact. It’s important to make a profit, but it’s more important to make a difference in a community,” she said.

The Administrator again recognized this amazing achievement and the historic milestone that the win represents, as the first LGBT business to win the award in the SBA’s history.

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Auxin Solar, Inc. creates “room to grow” with $10.2 million SBA 504 loan from Capital Access Group

Auxin Solar, a leading manufacturer of U.S.-made solar panels, solar mounting racks, and solar energy-producing systems, now has room to grow, thanks in part to a $10,206,540 million SBA 504 loan from Capital Access Group. The 504 loan helped Auxin Solar, Inc. to purchase a 99,576 sq. ft. building located at 6835 Via Del Oro, San Jose, CA.

“We were leasing a 27,000 sq. ft. facility, but the business is growing very rapidly, and we recognized that a year down the road we would need a larger facility,” said Mamun Rashid, co-founder, Auxin Solar. “Owning the building allows us to make infrastructure improvements, plus we are now free to install our own solar system technology to power ourselves. The building will also allow for expansion without having to relocate. Essentially the facility allows us room to grow for the future.”

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Equator Coffees & Teas named 2016 NATIONAL Small Business of the Year by the U.S. Small Business Administration in an awards ceremony in Washington, D.C. with Administrator Maria Contreras-Sweet!

This morning, SBA Administrator Maria Contreras-Sweet named Equator Coffees & Teas co-founders Helen Russell and Brooke McDonnell the 2016 National Small Business of the Year! This is the first time an LGBT-owned business has won the award.

Capital Access Group nominated Helen and Brooke for the Small Business of the Year award based on the SBA 504 loan the women received in 2003 to purchase their own 5,500-square-foot roasting plant in San Rafael. Helen calls it “one of the best decisions that we’ve ever made.”

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Capital Access Group Applauds Equator Coffees & Teas, Winner, U.S. Small Business Administration 2016 Small Business of the Year Award for the state of California

We are thrilled to announce that our client, Equator Coffees & Teas, has been named 2016 Small Business of the Year for the state of California. Capital Access Group nominated Equator cofounders Helen Russell and Brooke McDonnell for the award based on the SBA 504 loan the women received in 2003 to purchase their own 5,500-square-foot roasting plant in San Rafael. Helen calls it “one of the best decisions that we’ve ever made.”

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Basil Leaf Cafe Buys 2,697 sq. ft. Building in Danville, CA with SBA 504 loan from Capital Access Group

Capital Access Group recently arranged $2.3 million in total project financing for Basil Leaf Café to purchase the 2,697 sq. ft. building it had been leasing since 2006. Basil Leaf Café is located at 501-521 Hartz Avenue, Danville, CA.

“The SBA 504 loan was a no-brainer,” said Dan Hawkins, President, Basil Leaf Café. “The 10% down payment makes it very attainable, especially in this area where the cost of real estate is so high. For just 10% down you can get into the market, and the long-term, fixed payments offer stability for the business. For entrepreneurs that stability is key.”

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Environmental Remedies, Inc. cleans up with an SBA 504 loan from Capital Access Group

Capital Access Group was thrilled to arrange $1.683 million in total project financing for Environmental Remedies, Inc. (ERI), to purchase a 14,492 sq. ft. building located at 1999 Alpine Way, Hayward, CA. This was ERI’s second SBA 504 loan through Capital Access Group.

ERI is a family-owned and operated, asbestos, lead, and mold abatement contractor that serves residential and commercial clients throughout Northern California.  The new building, twice the size of their current facility, will stabilize the company’s occupancy costs and give it the room it needs to expand and function more efficiently.

“We purchased our current facility through the SBA 504 program in 2012,” said Scott Tamayo, President, ERI. “We refinanced the building last year and used the 504 program again to purchase the new building in Hayward.”

“The biggest benefit in deciding to go with the 504 loan as opposed to a conventional loan was the lower upfront costs,” said Tamayo. “For a small business like us, being able to put down 10% as opposed to at least 20% for a conventional loan – that’s a big chunk of change. It impacts cash flow and our ability to grow and hire new people.”

“Another factor in our decision-making process was the support we received from Capital Access Group,” said Tamayo.

“We were so pleased to help Scott and the team at ERI with their second 504 loan,” said Claudia Cohen, Senior Vice President, Capital Access Group. “It’s always rewarding to help a family-owned business and to support ERI’s continued growth. The SBA 504 program is ideal for small businesses like ERI that want to grow while preserving cash working capital.”

Read the full article online here.

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