We all need strong partnerships to succeed in business and in life; no one can achieve their maximum potential relying only on their own strengths. When we work together, we create greater strength in our communities and in our small businesses than we could ever achieve on our own. When small business owner Valerie Martinez called us to discuss financing for business growth, she knew she needed a strong partner to walk her through the process of financing a small business loan for a commercial real estate construction project.
On November 4, 2016, Martinez will celebrate the grand opening of her newly expanded PR firm, VMAPR. In business for over 20 years, this successful entrepreneur began her career as a reporter, and then, after a time working in the legislature, found a niche for herself providing public relations services for public schools. In 1996 she opened VMAPR, providing public relations, media relations, and community outreach to various industries. Her business has continued to grow and she now employs 30 people at her Los Angeles County location in Claremont. She has also opened an additional location in San Diego.
Ten years ago, Martinez purchased a 900 square-foot office building in Claremont for VMAPR, but with her extensive growth, the space had simply become too small to be effective for the needs of the growing business. Martinez acknowledged her own limitations, and knew she needed an experienced partner who fully understood how to finance commercial real estate construction, so she called Enterprise Funding Corp. Enterprise Funding was able to finance the Small Business Administration (SBA) portion of the loan (35 percent) and VMAPR provided a 15 percent down payment for the financing. Enterprise Funding also helped Martinez get connected to Zions Bank who was willing to partner with her for the remaining portion needed to complete the project. Martinez remarked, “Jeff and Lucas are tremendous partners in helping me understand capital and finance, and are able to step in and facilitate those discussions.”
The $514,000 Small Business Administration (SBA) 504 loan provided the needed funds to completely tear down the old building and replace it with a 2,997 square-foot office space. The ground-up construction project will be financed at a fixed rate for 20 years. The public is invited to attend the grand opening on November 4. Visit VMAPR.com for more details about this successful small business.
If your small business is in need of a loan for growth, or need to refinance debt, please give Enterprise Funding a call at (909) 792-3803 to discuss your needs. Effective rates for a 20-year, fixed-rate loan are 3.99% in October 2016. We’re located in the Inland Empire region of Southern California, but can provide financing to business owners throughout the state.