The purpose of this SBA 504 loan is to assist a local health and safety company with a building purchase, along with new equipment and minor renovations. After acquiring two competing businesses, the company outgrew its previous location.
The borrower has over 30 years of experience in the market, along with proven management experience. This project provides a minority-owned business with the means to own and occupy a vacant building.
The company currently has 14 employees. As a result of project completion, they will create two full-time jobs. Utilizing the SBA 504 Loan Program, in partnership with Educators Credit Union, the company found the ideal financing solution to meet their growing needs.