SAN DIEGO – A native of Iraq, Norhan “Nor” Soulaqa went from working as a gas station clerk in Spring Valley when he moved to the U.S. in 2003 to owning an ambulance company with more than 100 employees.
In January, Soulaqa bought a 5,430-square-foot warehouse in Miramar for $2.25 million to serve as the base of operations for his company, San Diego Ambulance Services.
The company’s primary clients are skilled nursing homes that need transportation for their patients to and from hospitals, although Soulaqa said his ambulances can serve as backup for 911 emergency services.
With a fleet of 21 ambulances, his company in 2023 handled about 22,000 calls, according to Soulaqa.
It all grew from Soulaqa’s wish to someday start a business of his own, and his curiosity about the ambulances that would pull into the station to fill up.
“It made me curious about the field and if it was a viable industry in which to launch a business,” Soulaqa said. “I was never aware of privately-owned ambulance companies.”
With the money he saved and help from relatives, “We made it happen,” Soulaqa said, adding that he spent several years researching the ambulance business and obtaining the permits and licenses to run it.
He also had to hire a staff of emergency medical technicians and nurses and contract with a firm that provided doctors on call when needed.
“I always wanted to do something different,” Soulaqa said.
He bought four used ambulances to start San Diego Ambulance Services but replaced them with new models as soon as he could afford them, because keeping the old ones up and running was expensive.
Buying the Miramar warehouse allowed Soulaqa to consolidate his operations.
“Before purchasing our current location, we worked out of several spaces,” Soulaqa said. “It was important for the business’s long-term financial viability to consolidate our space and have more control over our costs, as well as to make it easier for our team. Starting and growing my business has been tremendous. Buying my commercial building is the cherry on top.”
What made the building purchases possible was a Small Business Administration (SBA) 504 loan through Neighborhood National Bank, based in Chula Vista, and TMC Financing, based in Oakland.
‘An Unbelievable Entrepreneur’
Getting an SBA 504 loan required a smaller down payment of 10% to 15% of the purchase price compared to 20% to 30% for a conventional loan, said Mike Sarthou, a senior vice president of TMC.
“The 504 program allows owner/users to purchase real estate with very competitive rates,” Sarthou said. “The bottom line is, it’s great for the borrower because they get to put down a low down payment.”