SBA 504 loan makes buying a building “feasible” for Shamrock Moving & Storage, a second-generation, family-owned business
Founded in San Francisco in 1975 by Bob and Barbara Fallon, Shamrock Moving and Storage has grown from a one-truck operation to an enterprise that conducts roughly 3,000 moves each year. Building ownership has been a big contributor to the company’s success, according to Bob and Barbara’s son, Bobby Fallon, who is now the General Manager of the Business.
“Shamrock started with my dad, one truck, and my mom in the office,” said Fallon. “Basically, it stayed that way until we made our first building purchase in 1995 with the help of the SBA. Once we did that, we had a lot more confidence expanding the business knowing that our rent couldn’t be raised. It just gave a level of stability that really took the company to the next level.”
Capital Access recently helped Shamrock access $10.35M through the SBA 504 program to buy a second property, a 43K-sf office and warehouse facility in South San Francisco, to further expand the business.
“The SBA loan makes buying a building feasible,” according to Fallon. “It makes it possible for a regular business like ours to have a chance to come up with the capital for the down payment. If we had to put down a regular 20 to 30 percent on a commercial property, it wouldn’t be happening.”
“This is the second loan I’ve done with Claudia (Cohen), and it’s been great,” said Fallon. “To someone like me, who doesn’t do this every day, you need someone who is knowledgeable and responsive and can walk you through the process. Claudia went through the paperwork with me and made it a lot easier by coming into my office and meeting with me in person. She is always responsive, and she’s very knowledgeable.”
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