TMC Financing helps one of Las Vegas' busiest wedding chapels expand with new events center
May 29, 2014 (Newswire.com) - TMC Financing, Clark County's largest provider of SBA 504 loans, worked with Bank of Nevada to finance a $6.2 million project for the expansion of Viva Las Vegas Themed Weddings, which now operates at 1201 and 1205 South Las Vegas Boulevard. Ann Santiago served as TMC's business development officer for the transaction and Aimee Burford represented Bank of Nevada.
The financing package was used to remodel and expand Viva Las Vegas' existing facility, which now includes an event center, five wedding chapels, offices, reception area, changing rooms, flower and photo shops and costume & tuxedo rental. Viva Las Vegas performs an average of 6,000 weddings per year and is one of the busiest wedding chapels in the world. The existing location comprised 17,637 square feet and the new facility added 11,375 square feet. The project is located in the Las Vegas Redevelopment Area and created 10 new jobs.
Viva Las Vegas Wedding Chapels is a full-service wedding facility dedicated to providing personal attention and exceptional service in a rich and elegant atmosphere. Viva Las Vegas offers romantic traditional weddings, Elvis ceremonies, themed weddings and a full spectrum of wedding reception facilities. It has been named "Best Wedding Chapel In Las Vegas" by multiple publications including the Las Vegas Review-Journal and Nevada magazine.
About SBA 504 Loans
The U. S. Small Business Administration (SBA) 504 Program 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 typical loan structure for an SBA 504 loan comes from a first mortgage with a conventional lender and a second mortgage from a certified development company (CDC).