With help from TMC Financing and the SBA 504 loan program, Renteria Vineyard Management recently acquired a 5,049-square-foot building in the heart of Napa’s wine country for $1.4 million and only 10% down payment.
Renteria’s new building is located at 462 Devlin Road in Napa.
“Renteria has been a longtime leasee, but owning was always a goal for them,” explained Anna Rummelein of TMC Financing, the business that administered the SBA 504 loan. “Unfortunately, wine has often been looked at as a high-risk industry by lenders.”
When Renteria wanted to figure out a way to purchase real estate for the business, the firm’s long-time banker suggested they look into the SBA 504 program. The SBA 504 program offered a loan structure that was just right for Renteria along with a highly attractive interest rate and low down payment. “The low interest rate helped us realize our dreams,” states Blanca Wright, CFO of Renteria Vineyard Management.