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TMC Financing lends $6.9 million to Reliable Auto Sales in Las Vegas
SBA 504 loan helped auto dealership purchase 7.29 acre property in Southern Nevada
The financing package was used to purchase three parcels with four existing buildings comprising 72,850 square feet on 7.29 acres. Reliable Auto Sales’ new campus is now open for business at 2575 E. Sahara Avenue. The total financing was provided by TMC Financing and Zions First National Bank.
About SBA 504 Loans
The U. S. Small Business Administration (SBA) created the 504 loan program in 1980 to provide financing for successful, growing small and medium-sized businesses. Loan proceeds can be used to purchase, renovate or construct commercial real estate properties, or for the acquisition of equipment that has a life expectancy of 10 years or more.
About TMC Financing
TMC Financing provides Small Business Administration (SBA) 504 real estate financing and is the leading Certified Development Company (CDC) in Northern California and Southern Nevada. During the past 30 years, TMC has provided over $7.5 billion in SBA 504 financing for more than 4,500 businesses. This financing has resulted in the creation of over 33,000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade. TMC's experienced team works directly with borrowers, lenders and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower's credit capacity. For more information, visit tmcfinancing.com (http://cts.businesswire.com/