SAN FRANCISCO, September 23, 2019 (Newswire.com) - Capital Access Group (www.capitalaccess.com), a commercial real estate lender specializing in U.S. Small Business Administration 504 loans for growing businesses, helped Building Block Interiors, Inc. secure $1.65 million in total project financing through the SBA 504 commercial real estate loan program to support the purchase of a new home for their business, a 6,226-square-foot, industrial condominium located at 44081 S. Grimmer Boulevard, Fremont, CA. The facility will provide Building Block Interiors with a larger facility for their Bay Area operations with ample storage space, meeting rooms, and a showroom where clients can review drawings and see everything “right on the spot,” according to company president Brett Collins.
Founded in 2012 by Brett Collins and Dan White, Building Block Interiors is a full-service, contract furniture dealership that provides customers throughout the Bay Area and nationwide with installation and configuration of “anything inside the construction walls” of a client’s facility, including office furniture, de-mountable walls, seating, open office and biophilic design concepts. The company prides itself on their quality of work, speed of service, high level of creativity, and personal touch.
Buying a building “was really the next step for us, as a company,” according to Brett Collins, President, Building Block Interiors, Inc. “We wanted to get a building that would allow us to do what we wanted with it, and that includes the development of a showroom where we can show off the product and review drawings in one location. This new building allows to minimize the cost on our end and make us more profitable.”
Collins heard about the SBA 504 loan program through a colleague in the industry, and the low down payment and low-interest rates cemented the company’s decision to proceed with the purchase.
The low down payment was a big driver, and then obviously, as cheap as the interest rates are now, that was also attractive.
“We've been wanting to purchase a building for at least three years, and we had a savings fund. It felt like the right time to move forward,” said Collins. “The low down payment was a big driver, and then obviously, as cheap as the interest rates are now, that was also attractive.”
“The service we received from Capital Access Group was great,” according to Collins. “They basically put our package together, and they shopped our package around and kind of pre-qualified the banks before we had to get involved. This being our first loan, we didn't know how the process would play out, so they did a great job of keeping us informed along the whole process.”
“We loved working with Building Block Interiors to help them take the next step as a company and increase profits by buying a building for their business,” said Claudia Cohen, Senior Vice President, Capital Access Group. “Buying a building is one of the most significant steps a small business owner can take to secure the future of their business, and our mission is to make the process as easy as possible so our clients can focus on the future.”
About Capital Access Group: Capital Access Group is a leading statewide Certified Development Company based in San Francisco, authorized by the U.S. Small Business Administration to provide long-term, fixed-rate financing through the SBA 504 loan program, which offers 90% financing to business owners for the purchase, renovation, or construction of commercial real estate for their growing businesses. Founded in 1981, Capital Access Group has helped thousands of entrepreneurs grow their businesses and realize their dreams of owning their own buildings. Currently, the SBA 504 interest rate is 3.35%, fully amortized and fixed for 20 years. For more information, please visit www.capitalaccess.com.
Source: Capital Access Group