Longview Stables Wrangles 15 Acres for Equestrian Training Facility in Novato, CA, With $2.65M in Financing From Capital Access Group and the U.S. Small Business Administration 504 Loan Program
"It was just an easy process." - Lisa Durbrow, co-owner, Longview Stables
SAN FRANCISCO, January 10, 2018 (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, recently helped Lisa Durbrow and Cydney Shald, co-owners of Longview Stables, to secure $2,650,000 in total project financing through the SBA 504 commercial real estate loan program to purchase an equestrian facility located at 3777 Vineyard Road, Novato, California. The property includes 15.1 acres of land, a residential building, and multiple horse stables and riding arenas.
Lisa and Cyd are well-known for their unbridled attention to nurturing meaningful connections with their riders and horses, and with each other. The mother-and-daughter team has been in business together since 2010. They currently lease space in Nicasio Valley, California, and will move the business to the new property later this year.
The only way that we were going to be able to secure this purchase was with the SBA 504 loan. Our banker told us about the program, and Capital Access Group took a leap of faith in us and our business. They had faith that in what we could do.
Lisa Durbrow, Co-owner, Longview Stables
“Mom and I have a great business that we really enjoy, and we wanted to find a property with a little bit of open space for the horses,” said Cyd Shald, co-owner, Longview Stables.
Becoming a property owner can be an emotional rollercoaster, but not if you have Capital Access Group on your side.
“The only way that we were going to be able to secure this purchase was with the 504 loan,” said Lisa Durbrow, co-owner, Longview Stables. “Our banker told us about the program, and Capital Access Group took a leap of faith in us and our business. They had faith in what we could do.”
“Your vision can only go so far when you lease, because at the end of the day you’re putting money into somebody else’s dream,” said Durbrow.
The importance of owning property, especially as an equestrian facility, is paramount as available land in Marin County quickly slates for commercial development.
“In Marin County, this kind of acreage is pretty special,” said Durbrow. “It links us up to nine miles of trails, something we don't have right now.”
“We’re also looking at a piece of land that’s been over-used for years, and we really want to tighten up our footprint on the land,” said Shald. “It's in an amazing setting, and I think the land just needs to be able to rest. Our goal is to condense the horses into a couple of areas, fix the arenas, and then just have a little bit of open space on this land.”
“We were so happy to help Lisa and Cyd purchase this property to secure their business for the long-term,” said Claudia Cohen, SVP, Capital Access Group. “We also enjoyed working with a mother-and-daughter team of business owners. Cyd was pregnant during the loan process, and as a woman-owned business, we can identify. We all wanted to make the process as easy as possible for Cyd, Lisa, and their family.”
“Working with Capital Access Group was super-easy and seamless,” said Durbrow. “They walked us through each step, using checklists to outline what was needed. It seemed like a very methodical approach for those of us who don’t understand loans or banking—it was just an easy process.”
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 percent 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 buildings. Currently, the SBA 504 interest rate is 4.50 percent, fully amortized and fixed for 20 years. For more information, please visit www.capitalaccess.com.
Source: Capital Access Group