Capital Access Group Helps Young and Borlik Architects Purchase New Headquarters in Los Altos, CA, With SBA 504 Loan
"The loan afforded us the ability to develop an office space that is ideal for our needs, and to furnish the space entirely to meet our staffing requirements," said Andrew Young, CEO, Young and Borlik Architects, Inc.
San Francisco, CA, October 24, 2016 (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, announced today that it helped Young and Borlik Architects, Inc. to secure $1,935,000 in total project financing to purchase a 2,811 square foot building at 4962 El Camino Real, #213–218, Los Altos, CA.
Young and Borlik Architects, Inc., has been in business since 1989, primarily doing residential projects—from small additions to large estates—throughout the Bay Area. “The expectations for residential architecture in the Bay Area are very high, as is the availability for top people, and for top quality construction and materials,” said Andrew Young, CEO, Young and Borlik Architects, Inc. “It’s a great place to be doing architecture.”
"Getting our own space, and getting our own building has given us the ability to plan for the future, to not be at the mercy of other economic influences."
Andrew Young, CEO, Young and Borlik Architects
Young and Borlik is a full-service architecture firm specializing in residential architecture and design and permit services. The firm offers interactive design, feasibility, planning, permit approvals, 3D modeling, and complete construction drawings and detailing services.
“Young and Borlik is a wonderful addition to the SBA 504 program,” said Jacklyn Jordan, President and CEO, Capital Access Group. “The 504 loan will help this firm to stabilize occupancy costs, and the new building provides the room they need to expand and function more efficiently on their own terms and not worry about having to move when a lease expires.”
Young said that he and his partners are thrilled with the loan and what it has allowed them to do. “Getting our own space and getting our own building has given us the ability to plan for the future, to not be at the mercy of other economic influences,” he said.
Currently, Young and Borlik has 13 employees. The new building will allow the business to add at least five more positions to its roster. “For the first time, we’ve been able to spread out a little bit and afford everybody a little more space around their work stations,” Young said. “Having this office is really ideal in allowing us the ability to grow on our own terms and not those of the leased situation.”
Capital Access Group “made it a very smooth process,” to secure the loan, Young said. “The SBA loan for us was a great solution in bridging with a conventional loan, half with the SBA loan and half with the conventional bank. The encouragement and support we received to our growth was key in being able to accomplish this.”
The SBA 504 loan is a partnership between the Certified Development Company (CDC), a commercial bank, the small business borrower, and the U.S. Small Business Administration (SBA). The loan provides capital for the purchase, renovation, or construction of commercial real estate and heavy equipment.
About Capital Access Group:
San Francisco-based Capital Access Group is a leading Certified Development Company, 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 4.26%, fully amortized and fixed for 20 years. For more information, please visit www.capitalaccess.com.
Source: Capital Access Group
