SAN FRANCISCO--(BUSINESS WIRE)--TMC Financing (www.tmcfinancing.com), a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that ACI Alloys, Inc. (http://www.acialloys.com/index.html) has purchased a property with a $1,197,000 SBA 504 loan. The loan financed a 10,425 square foot building located at 1458 Seareel Place, San Jose, California.
“ACI Alloys turned to SBA 504 financing when the company needed room to grow,” said Barbara Morrison, President and CEO, TMC Financing. “The SBA 504 loan enabled ACI to replace a 4,000 square foot leased location with a 10,000 square foot facility they own. Gaining stability and freedom from lease market fluctuations was important to ACI’s management in order to support future growth.”
TMC worked with ACI Alloys to provide 90% financing via 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 October SBA 504 interest rate is 4.09%, fully fixed for 20 years.
ACI Alloys manufactures specialty materials and shapes for thin-film and related applications. Products are used by academic institutions and industrial research groups with clients including IBM, Stanford University, and Lawrence Livermore National Labs. Founded in 1985 by Paul Albert, Sc.D., ACI has a long history in the metal fabrication industry. Today the family business is run by Albert’s two sons, Lawrence and Charles Albert.
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 27,000 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 or http://www.sba.gov.