SAN FRANCISCO - July 22, 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, recently helped Barndt’s Welding Inc. secure $3 million in total project financing through the SBA 504 commercial real estate loan program to purchase an 11,216-square-foot industrial warehouse with 648 square feet of office space at 141 & 159 Helman Lane in Cotati, CA. The new facility provides the business with room to grow and hire new employees in the future, and it also gives the owners confidence knowing they will have an asset they can lease or sell to secure their retirement.
Founded in 1989 by Larry Barndt, Barndt’s Welding provides a wide range of welding and metal repair services for residential, business, and industrial projects in Sonoma, Marin, and Napa counties. Over the years, the business has become a family affair, with Larry’s wife, Catherine, and their daughter, Kristin, both working for the business.
“This is a poignant moment for us,” said Kristin Barndt, Office Manager, Barndt’s Welding, Inc. “My dad has spent countless hours building his business into what it is today, growing it from a small, one-man shop into a thriving operation. I can’t wait for this new transition and for the business to boom even further.”
The feeling of owning their own space feels “wonderful,” according to Larry Barndt, the owner of the
business, and he and Kristin credit the SBA 504 program for making it possible.
“To be honest, it all sounded foreign at first. It was quite a learning curve to figure it all out,” said Kristin. “I think (the 504 loan) appealed to us, as a family, because first, it was a government-run loan and that was reassuring. And second, the low down payment and the low monthly payments mean you’re not cash strapped and you can pay off the loan without hurting the business.”
The Barndts were not only happy with the SBA 504 loan, they were also pleased with the service they received from Capital Access Group, especially Business Development Officer Jenny Tice.
“I feel like Jenny’s a part of our family now,” said Kristin. “She held my hand so gently through this entire process. Jenny made sure I understood exactly what was going on. She was incredibly patient.”
“We’re still in contact with her,” said Larry. “She comes by and says hi to us when she’s in the area and asks how we’re doing. She was wonderful to work with.”
“It is always a pleasure to help a family-run business, especially one as warm and generous as the Barndt family,” said Jenny Tice, Business Development, Capital Access Group. “This is why I enjoy working with small businesses. The low down payment, low-interest, government-guaranteed 504 loan program gives small business owners access to the capital they need to grow without harming their business.”
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 3.90%, fully amortized and fixed for 20 years. For more information, please visit www.capitalaccess.com.
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Original Source: Capital Access Group Helps Barndt's Welding, Inc. Access $3M in SBA 504 Financing to Purchase a Commercial Warehouse Building in Cotati, CA
