TMC Financing- FSB Core Strategies Utilizes SBA 504 Loan to Purchase Historic Office Building - PowerPoint PPT Presentation

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TMC Financing- FSB Core Strategies Utilizes SBA 504 Loan to Purchase Historic Office Building

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FSB Core Strategies purchased the historic property located at 1800 J Street in Downtown Sacramento to serve as a new home for their business. The property is perfect for this tight knit firm – giving them an added family-feel to their operations. – PowerPoint PPT presentation

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Title: TMC Financing- FSB Core Strategies Utilizes SBA 504 Loan to Purchase Historic Office Building


1
TMC Financing FSB Core Strategies Utilizes SBA
504 Loan to Purchase Historic Office Building
  • FSB Core Strategies purchased the historic
    property located at 1800 J Street in Downtown
    Sacramento to serve as a new home for their
    business. The property is perfect for this tight
    knit firm giving them an added family-feel to
    their operations.

Cherri Spriggs Hernandez, Executive Vice
President and Chief Marketing Officer, is
enthusiastic over the move. Moving into our own
building has been so incredibly exciting! Since
our building is nearly a 150-year-old Victorian,
it really changed our office culture quickly
and for the better! We always say were the most
family business youll find, but none of us are
actually family. Now we have a house for our
family!
2
Founded in 2002, FSB Core Strategies is a public
affairs, public relations and political
consulting firm that has received many awards and
accolades over the years for their impactful
work. The firm is owned and operated by President
and CEO, Jeff Flint, and Principals Cherri
Spriggs Hernandez and Kristy Babb. The firms
expertise expands from strategic council to
research to website development and has been
instrumental in many local political campaigns
throughout the years. This small business new
home also has a history in politics. The 3,963
square foot historic Victorian building was built
in 1887 and was originally the home of the
Wittenbrock family, a family that was prominent
in early California politics. In 1962, the home
changed hands and became the headquarters for
Senator Thomas Kuchels reelection campaign. The
building is one of the last Victorian homes
converted into office space on a commercial
corridor in midtown Sacramento. The SBA Small
Business Administration 504 Loan Program allowed
this small business to go from leasing to owning
with only a 10 percent down payment, says TMCs
Senior Vice President of Business
Development, Jim Azevedo. Its always so great
to see a small business make this transition that
will be so beneficial to them down the road.
3
Moving into their building is the start of a new
chapter for the business. We have so much pride
in our new building that each and every project
we take on has even more meaning because we know
weve made this investment. Wed like to purchase
a building for our southern California office
next, said Spriggs Hernandez. The 504 Loan
Program The 504 loan provides quality financing
to small business owners for the purchase of
fixed assets like commercial real estate and
equipment. The SBA created the loan program to
promote prosperity amongst small business in the
United States and encourage job growth.
The borrower injects a small down payment
starting at 10 percent, a conventional lender
provides the first mortgage, and the SBA provides
the second mortgage up to 40 percent of the total
project cost. Conventional lenders are
incentivized to participate in the program as
they can finance only 50 percent of the project
and remain in first lien position.
4
To show its support of all US veterans, the SBA
incorporated an additional incentive into the SBA
504 Loan Program for veteran small business
owners. The VetLoan Advantage Program offers a
3,000 cash rebate at the time of funding to
offset the costs of appraisals, environmental
reports and other loan expenses to veterans who
own 51 or more of the business. FSB Core
Strategies was eligible to participate in this
program and it is considered by many to be an
added benefit to an already very attractive loan
program. TMC Financing has over 35 years of
experience providing 504 loans to small
businesses and is a Premier Certified Lender with
the SBA. TMC works with you to obtain best loan
package possible in the shortest amount of time.
A TMC 504 loan expert can answer all your
questions and discuss your financing
options. Contact TMC today to get
started. Article Source- https//fsbcorestrategi
es.com/tmc-financing-fsb-core-strategies-utilizes-
sba-504-loan-purchase-historic-office-building/
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