TMC SBA 504 Success Story: Ethos Design
We are pleased to feature this wonderful SBA 504 Success Story!
- Armen Gharabegian of Ethos Design
- Business Location: Glendale, California
- 1st Mortgage Lender: Bank of America
- 2nd Mortgage Lender/CDC: TMC Development
- Total Project Cost: $4,500,000
After receiving undergraduate and graduate degrees in industrial design, Armen Gharabegian decided to start his own event marketing and production company. To Armen’s credit, Ethos Design quickly earned a reputation and in no time was designing and producing for high-end corporate events, tradeshows, and even major Hollywood shows including the Emmy Awards and the Oscars.
Armen then discovered and acted upon a second business opportunity when he was looking for sophisticated rental furniture to use at Ethos Design events and found no vendors. This led him to create Lounge 22 – a furniture design and manufacturing business which has since found its own success.
Ethos Design operates out of two individual buildings, one of which was recently purchased with the help of an SBA 504 loan. Armen connected with Bank of America for a first mortgage and was introduced to Jacky Kim of TMC to finance the SBA second mortgage. The decision to own instead of lease was simple as according to Armen, “It just makes sense to acquire commercial real estate as we expand our businesses.”
“Obtaining the 504 loan through TMC and Bank of America was an amazing experience,” he says. “It was very easy and smooth and we were able to finish the project quickly. As a business owner, the value of my time is immeasurable. I was very excited about the ease of our loan.”
For more information about TMC Development and SBA financing please visit www.tmcd.com.