Mechanical Engineering Firm Obtains Industrial Space for $1.3 Million With SBA 504 Loan
As published in Synacor:
Mechanical Engineering Firm Obtains Industrial Space for $1.3 Million With SBA 504 Loan
Material Innovations, Inc. Accepts SBA 504 Funds from TMC Financing
TMC Financing, a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that Material Innovations, Inc. acquired an industrial space in Huntington Beach with a SBA 504 loan for $1,359,000. The project includes a 10,183 square foot industrial property at 17611 Metzler Lane, Huntington Beach, California.
“The demand for industrial space is growing for small businesses as they bring more jobs back to the United States,” said Barbara Morrison, President and CEO, TMC Financing. “Material Innovations turned to TMC to help find the perfect industrial property to expand their operations, add jobs and preserve working capital. TMC was able to assist Material Innovations by ensuring a loan at low-market, fixed rate financing.”
Jennifer Davis, Senior Vice President – Business Development at TMC Financing, worked with Material Innovations, to provide financing through the SBA 504 commercial real estate loan program. SBA 504 financing 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 March SBA 504 interest rate is 4.29%, fully fixed for 20 years.
Material Innovations was founded by Jim Calder. Calder’s mission was to develop a company to provide innovative composite materials and design solutions to support the next generation of satellites and mission specific space probes. His staff includes engineers and technicians with extensive background in materials testing, advanced composite materials design, and mechanical engineering, all under one roof. The four sectors, or specialties, of the firm include testing, engineering, thermal management, CNC machining/waterjetting, and hardware manufacturing.
About TMC
During the past 30 years, TMC has provided approximately $7.2 billion in SBA 504 financing for more than 4,200 businesses throughout California and Nevada. This financing has resulted in the creation of 30,000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade, and is the number one SBA 504 Lender in Northern California and Las Vegas. TMC’s experienced staff works directly with borrowers, first mortgage lenders and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower’s credit capacity. For more information, visit http://www.tmcfinancing.com.