Tim Vasquez, owner of Someburros, leveraged an SBA 504 loan in 2021 to purchase a prime site in Peoria for the family-owned restaurant chain’s expansion. The loan, which required a lower down payment than conventional loans, was a “huge help,” allowing the company to grow faster while maintaining financial flexibility.
The SBA 504 loan program, which provides below-market, fixed-rate financing for commercial real estate and equipment, continues to be a valuable tool for small businesses looking to own rather than rent property. In fiscal 2024, SBA lending hit a 15-year high, with Arizona seeing significant growth in both the 504 and 7(a) loan programs, reflecting the state’s rising population and business-friendly environment.
TMC Financing, the top SBA loan provider in Arizona, reported record activity, highlighting the importance of these programs in fostering job creation and stability for small businesses. Despite the detailed application process, the transparent rates and long-term benefits make SBA loans an attractive option for entrepreneurs aiming to expand sustainably.
With more locations planned, Vasquez emphasizes balancing innovation with tradition, staying true to the family’s Sonoran-style recipes while adopting modern conveniences like drive-thrus and online ordering. This approach has fueled the success of Someburros, which now boasts 16 locations and plans for further growth in the West Valley.