Three Brothers Furniture, a second-generation, family-owned business, buys new building in Vallejo, CA
Capital Access Group was thrilled to help Three Brothers Furniture, a proud member of the Vallejo business community, to secure $1M in financing to purchase a 22K-sf building on a 57K-sf foot parcel, to grow their business and consolidate operations under one roof.
Founded by Lew and Lora Glenn in 1952, Three Brothers has been a staple in the Vallejo community, providing good quality furniture at a fair price. Today, the company is led by Lew and Lora’s son, Gary, and his wife Julia and son Justin.
“We’re a completely family-owned business that delivers on what we say,” said Julia Glenn, Co-Owner, Three Brothers Furniture. “We believe in offering the best customer service, and we want to be able to keep growing and expanding so we can continue to be a strong part of Vallejo’s community.”
Three Brothers’ growth was constrained by a showroom that was “just getting too small,” according to Julia, plus, their warehouse was in a separate location. “The new facility, originally built as a furniture store, has a warehouse and a showroom all designed together,” said Julia. “It’s really going to be a fabulous move for us.”
When it came to financing the purchase, the choice was obvious. “If we did not go through this SBA program, there is no way we would have qualified for any other loan,” said Julia. “We had a great credit rating; we just didn’t have the down payment cash that we needed. All our equity was invested in our inventory.”
The Glenns were also amazed by the fast turnaround on their 504 loan. “We had to close the loan on this building in roughly six weeks,” said Julia. “Facilitating an SBA loan in six weeks seems unheard of, and yet Claudia (Cohen) at Capital Access Group made it so simple and so comprehensive. They really bent over backwards. We were in constant contact and it was fabulous to have that level of support.”
“In the end, we’re buying a bigger unit that enables us to sustain the business with the same expenses we had before,” said Glenn. “It’s invigorating to finally have a future we can forecast.”