Camacho Auto Sales
When you go to your favorite coffee shop, there’s very little point to looking at the menu. You already know what you’re going to order because you order it every time; Chai, Americano, Caramel Macchiato – and you know exactly how you like it – upside-down, skinny, add whip! Maybe you’re there so often, the barista starts your order before you get to the register – it’s expected, predictable. And it better work both ways – that drink better taste exactly like you expect it to or, it’s going back! Predictability, reliability, that’s why we go back, because we know what to expect, we get exactly what we want every time, and we enjoy the experience.
When small businesses seek out Enterprise Funding Corporation for commercial mortgage lending or for purchasing long-term assets the first time, it’s a privilege to prove our worth as an efficient, knowledgeable team who can successfully acquire the financing that they need. When they come back the second time, it’s an honor to know that they had a great experience and are once again putting their faith in our organization knowing that they will get predictable, reliable, excellent service.
Such was the case with Camacho Auto Sales. After successfully financing an SBA loan with Enterprise Funding Corp. in 2012 to expand their business to a fourth location in the Palmdale Auto Mall in Palmdale, CA, they recently approached us again to finance another property. This most recent deal allowed Camacho Auto Sales to purchase a vacant Saturn dealership located directly across the street from the property they purchased in 2012. This new facility will allow the company to expand their warranty, service and detail work and is the fifth used car dealership purchased by Gustavo G. Camacho and Gustavo (Gus) E. Camacho; a father and son team whose story began in 1963 when Gustavo, the father, dreamed of owning his own business. By 1980, he had saved enough money to open his first dealership. Fast forward 34 years and father and son are working along-side each other with a total of five locations throughout Lancaster and Palmdale. They also offer financing to their customers through “King of Credit Financial.” The family is very active in their community. Gus has served as an Executive Board Member on a variety of service organizations, rotaries, and chambers of commerce.
The $1.28 million project is projected to create 20 new jobs in an area that has a 12.7 percent unemployment rate and is designated as a “labor surplus” area. The business has already grown from 60 employees in 2011 to 200, thanks, in part, to the first SBA loan that we financed in 2012. Jeffrey L. Johnson at Mission Bank in Lancaster partnered with Enterprise Funding Corporation to finance the project, providing $640,000 or 50 percent of the total project costs. Enterprise Funding picked up 40 percent of the loan and Camacho Auto Sales financed 10 percent of the costs. The SBA 504 loan was financed with a 20-year, low, fixed rate of 5.26 percent.
At Enterprise Funding, we are the SBA loan experts in the Inland Empire and High Desert regions of Southern California. Our expertise and knowledge of these areas is unparalleled in the industry, but our expertise doesn’t end there. We finance small business loans in, and have extensive knowledge of every region in Southern California, including the Antelope Valley. We strongly believe that SBA commercial lending revitalizes and breathes life into communities and are grateful to have earned the trust of many industry leaders and small businesses like Camacho Auto Sales. If you need small business financing for a commercial mortgage, or any other long-term, fixed assets, we’d love the opportunity to prove ourselves to you. Call us anytime with questions at (909) 792-3803