Concord Petroleum Inc. Builds an Energy Efficient Gas Station in Concord for $4 Million
TMC Financing provides SBA 504 loan for the construction of the Concord Petroleum Inc. gas station, mini-market and Popeye’s restaurant franchise Concord, CA for $4 Million.
San Francisco, CA, October 07, 2014 --(PR.com)-- TMC Financing, San Francisco Bay Area’s leading provider of SBA 504 loans, partnered with Community Bank of the Bay to finance the $4 million ground-up, energy-efficient, construction project for Concord Petroleum’s sixth location in the Bay Area. The property is located at 5101 Clayton Road in Concord, CA and occupies 4,600 square feet. The 20-year fixed-rate SBA loan will supply the area with an AM/PM Minimarket-Acro gas station and Popeye’s Chicken franchise.
Energy-efficient enhancements, including solar panels, will provide the location with approximately 10% energy savings, translating to more than $5,000 in energy saving costs per year.
“Energy-efficient improvements allow business owners to take advantage of tax rebates and recoup annual expenses,” said Kurt Chambliss Senior Vice President at TMC Financing. “Concord Petroleum was also a case where the project qualified as a special use facility, typically difficult for conventional lenders to finance alone. This type of project is what SBA financing is all about.”
Sandy Mann, Director of Development at Concord Petroleum says, “The SBA 504 program helped our company receive financing when conventional financing for this project was not available. We anticipate that our project will create more than 40 new jobs on a site that was a vacant eyesore in the City of Concord. TMC was fantastic in facilitating the step-by-step process of getting us approved by the SBA.”
About Concord Petroleum Inc.
Concord Petroleum Inc., formed in 2010 and currently owns and operates seven AM/PM-Arco / Popeye’s franchises throughout San Francisco’s East Bay Area. Concord Petroleum was founded by Charanjiv Dhaliwal, who has extensive experience managing and running franchise gas stations with mini-market and restaurant additions. Mr. Dhaliwal is active in the day-to-day operations of all his franchises.
About the SBA 504 Program
The SBA 504 Program offers businesses below-market, fixed rate financing for the acquisition, renovation or construction of commercial real estate. SBA 504 loans provide long-term stability for businesses with the ability to retain working capital which can be used to further grow the business and create new jobs. The July SBA 504 interest rate is 4.94% fully fixed for 20 years. The typical loan structure for an SBA 504 loan comes from a first mortgage with a conventional lender and a second mortgage from a certified development company (CDC).
About TMC
TMC Financing provides Small Business Administration (SBA) 504 real estate financing and is the leading Certified Development Company (CDC) in Northern California and Southern Nevada. In the past 30 years, TMC has provided over $7.5 billion in SBA 504 financing for more than 4,500 businesses, resulting in the creation of over 33,000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade. For more information, visit tmcfinancing.com.
Energy-efficient enhancements, including solar panels, will provide the location with approximately 10% energy savings, translating to more than $5,000 in energy saving costs per year.
“Energy-efficient improvements allow business owners to take advantage of tax rebates and recoup annual expenses,” said Kurt Chambliss Senior Vice President at TMC Financing. “Concord Petroleum was also a case where the project qualified as a special use facility, typically difficult for conventional lenders to finance alone. This type of project is what SBA financing is all about.”
Sandy Mann, Director of Development at Concord Petroleum says, “The SBA 504 program helped our company receive financing when conventional financing for this project was not available. We anticipate that our project will create more than 40 new jobs on a site that was a vacant eyesore in the City of Concord. TMC was fantastic in facilitating the step-by-step process of getting us approved by the SBA.”
About Concord Petroleum Inc.
Concord Petroleum Inc., formed in 2010 and currently owns and operates seven AM/PM-Arco / Popeye’s franchises throughout San Francisco’s East Bay Area. Concord Petroleum was founded by Charanjiv Dhaliwal, who has extensive experience managing and running franchise gas stations with mini-market and restaurant additions. Mr. Dhaliwal is active in the day-to-day operations of all his franchises.
About the SBA 504 Program
The SBA 504 Program offers businesses below-market, fixed rate financing for the acquisition, renovation or construction of commercial real estate. SBA 504 loans provide long-term stability for businesses with the ability to retain working capital which can be used to further grow the business and create new jobs. The July SBA 504 interest rate is 4.94% fully fixed for 20 years. The typical loan structure for an SBA 504 loan comes from a first mortgage with a conventional lender and a second mortgage from a certified development company (CDC).
About TMC
TMC Financing provides Small Business Administration (SBA) 504 real estate financing and is the leading Certified Development Company (CDC) in Northern California and Southern Nevada. In the past 30 years, TMC has provided over $7.5 billion in SBA 504 financing for more than 4,500 businesses, resulting in the creation of over 33,000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade. For more information, visit tmcfinancing.com.
Contact
TMC Financing
Kathryn Prescott
415-655-5409
tmcfinancing.com
Kathryn Prescott
415-655-5409
tmcfinancing.com
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