Capital Access Group Helps Aby's Custom Upholstery Secure Financing to Buy New Building in San Jose
San Francisco, CA, September 29, 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 Aby’s Custom Upholstery (http://www.abyscustomupholstery.com) to secure financing to purchase a 2,704 square foot building at 545 Horning St. in San Jose, CA.
Aby’s Custom Upholstery has been in business since 2003 serving residential and commercial customers in Los Gatos, Los Altos, Saratoga, and throughout the Peninsula and South Bay. It received more than one hundred 5-star reviews on Yelp.com. CEO Abigail (Aby) Figueroa has been sole owner of the business since 2012.
"Capital Access Group worked with me through the loan process and made things simple and to the point, which was important because you feel very vulnerable, especially when you're buying something for the first time. Capital Access Group was on our side the whole way through."
Aby Figueroa, CEO, Aby's Custom Upholstery
Aby is proud of the reputation she’s earned for providing excellent craftsmanship, personalized service, and high quality in every piece of furniture the company handles. “It’s about good service, being legitimate from beginning to end. You deliver what you promised—that’s very important,” she said.
“Aby’s Custom Upholstery is a great business that shows the 504 program at work,” said Claudia Cohen, Senior Vice President of Capital Access Group. “The 504 program allows business owners like Aby to preserve cash to grow the business, and we’re thrilled that Aby and her employees now have a comfortable workplace with a showroom to display their beautiful work.”
Aby said that being able to have a location and a bigger space is “amazing” because she will be able to have space for an assistant with ample room to grow. “Now we’ll have two offices, a conference room, a showroom, a waiting area, and my employees are going to have a break room, which is very neat,” she said.
The new building will allow the business to add three more people to its current roster of six employees.
Purchasing a building for the business also gives Aby confidence for the future and the freedom to grow her business. “I wanted to buy. I knew I didn’t want to just lease from someone else and be at their mercy,” she said.
Claudia Cohen from Capital Access Group “made the process very doable,” Aby said. “I wear a lot of hats, so there’s only so much I can do in a day. Claudia worked with me through the loan process and made things simple and to the point, which was important because you feel very vulnerable, especially when you’re buying something for the first time. Capital Access Group was on our side the whole way through.”
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 4.08%, fully amortized and fixed for 20 years. For more information, please visit www.capitalaccess.com.
Source: Capital Access Group
