Owner of Laser Eye Center of Silicon Valley buys $8.35M building he had been leasing thanks to the SBA 504 loan program
Dr. Craig Bindi, the owner of Laser Eye Center of Silicon Valley, was tired of paying rent to someone else, but thanks to Capital Access Group and the SBA 504 loan program, he now owns the property he was leasing. He also feels more secure about his retirement.
“It feels great to own the property, because for a long time we were paying rent to someone else. I love the fact that I can own the building that we work in every day, and as the landlord, we’re paying ourselves. I think this will ultimately be the biggest part of my retirement.”
Capital Access helped Bindi secure $8.35M in financing through the 504 program to purchase the 12,944-sf building in a transaction Bindi described as “reassuring” and “efficient.”
“The entire process was efficient,” said Bindi. “Every interaction that we had with Claudia (Cohen) was reassuring and professional. Because of her good relationships with the banks, we had three banks that we were able to consider.”
In addition to the service he received from Capital Access Group, Bindi also appreciated the 504 program’s low down payment.
“It’s a high-ticket item, so being able to come in with such a low amount of principal, it very well might not have happened if it weren’t for that,” said Bindi. “That was the difference between making me feel comfortable with this and not wanting to do it. This was attractive, and it worked.”
Click here to read more about Dr. Bindi and the Laser Eye Center of Silicon Valley.