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Recently Funded Deal: Building Supplies Wholesaler

Recently Funded Deal: Building Supplies Wholesaler

The 504 Company provides funding to help a business expand to a third location. 

Situation:

  • A wholesaler of building supplies operating out of Brentwood, NY and Riverhead, NY was looking to secure financing on a property that would allow them to expand into a third location in Hauppauge, NY.
  • A partner bank referred the owners to The 504 Company to pursue financing through the SBA 504 program to acquire the new property.

Solution:

  • The SBA 504 loan program funded $802,000 of a $2.03 million property purchase in Hauppauge, NY, allowing the company to expand operations to a third location.
  • The borrower benefited from low, fixed-interest rate financing and a 20-year term.

Impact:

  • The transaction secured financing on the 2.4 acre site that the owners needed to expand their business.
  • The third location will allow the borrower to expand their client base and increase their presence in Suffolk County.

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