ACI Alloys Secures $1.2 Million SBA Real Estate Loan from TMC Financing
Nov 10, 2012 (Close-Up Media via COMTEX) --
TMC Financing, a Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, announced that ACI Alloys, Inc. has purchased a property with a $1,197,000 SBA 504 loan.
According to a release, the loan financed a 10,425 square foot building located at 1458 Seareel Place, San Jose, California.
"ACI Alloys turned to SBA 504 financing when the company needed room to grow," said Barbara Morrison, President and CEO, TMC Financing. "The SBA 504 loan enabled ACI to replace a 4,000 square foot leased location with a 10,000 square foot facility they own. Gaining stability and freedom from lease market fluctuations was important to ACI's management in order to support future growth."
TMC said it worked with ACI Alloys to provide 90 percent financing via the SBA 504 commercial real estate loan program. SBA 504 financing 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 October SBA 504 interest rate is 4.09 percent, fully fixed for 20 years.
ACI Alloys manufactures specialty materials and shapes for thin-film and related applications.
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