TMC Financing, Clark County’s largest provider of SBA 504 loans, worked with JP Morgan Chase to finance a $5.02 million events studio for Fresh Wata. Ann Santiago served as TMC’s business development officer for the transaction and Leo Biedermann of Commerce/Cushman and Wakefield Alliance was the buyer’s broker.
The financing package was used to purchase a building located at 3905 W. Diablo Drive in Las Vegas. The building comprises 98,881 square feet of industrial and office/warehouse space. The building also houses Fresh Wata’s showroom and events space. The new location created 4 jobs and retained 20 employees.
Fresh Wata is a Las Vegas-based company that specializes in creating multi-dimensional experiences through world-class exhibits, events and design installations.
Fresh Wata president Tricia Costello said TMC Financing was integral in helping her company expand. “The 10 percent down was a huge help in purchasing our new showroom and warehouse,” she said. “It allowed us to keep operating costs intact. We have always wanted to own our building and design it to fit our brand. SBA helped make this all possible.”
Working with TMC Financing, Costello said she found the process of applying for an SBA 504 easier than expected. “TMC was patient with us, since it took several years for us to find the right building,” she said. “Ann Santiago was so helpful and always available for questions, emails and meeting us in person to guide us through the process.”
About SBA 504 Loans
The U. S. Small Business Administration (SBA) 504 Program offers businesses below-market, fixed rate financing for the acquisition, renovation or construction of commercial real estate. SBA 504 loans provide long-term stability for businesses with the ability to retain working capital, which can be used to further grow the business and create new jobs. The typical loan structure for an SBA 504 loan comes from a first mortgage with a conventional lender and a second mortgage from a certified development company (CDC).
About TMC Financing
TMC Financing provides Small Business Administration (SBA) 504 real estate financing and is the leading Certified Development Company (CDC) in Northern California and Southern Nevada. During the past 30 years, TMC has provided over $7.5 billion in SBA 504 financing for more than 4,500 businesses. This financing has resulted in the creation of over 33,000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade. TMC’s experienced team works directly with borrowers, lenders and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower’s credit capacity.