Excel Test Prep Scores New Building with SBA 504 Loan from Capital Access Group
SAN FRANCISCO (PRWEB) March 16, 2015 -- Capital Access Group (http://www.capitalaccess.com), a commercial real estate lender specializing in U.S. Small Business Administration 504 loans for growing businesses, announced today that it assisted Fremont CA-based Excel Test Prep (http://www.exceltest.com) with financing to purchase a 27,251 sq. ft. building located at 4160 Technology Drive, Fremont, CA. Excel Test Prep, founded in 2003, has become one of the most rapidly growing and successful test preparation companies in California serving students from around the world with custom, in-person and online test-taking classes and tutoring services.
Capital Access Group provided $1.305 million in SBA 504 funds of the total $3,159,367 purchase.
“Excel Test Prep has been growing at an amazing rate in California, and we have students flying in from across the country and around the world, including India, China, Singapore, and Saudi Arabia to prepare for the SAT, ACT, and numerous other exams,” said Rakhi Israni Executive Director, Excel Test Prep. “We outgrew our old facility about a year-and-a-half ago. The new facility will help us handle the increased demand for our services.”
“It was a pleasure helping Excel Test Prep prepare to buy its new building using the 504 loan program,” said Jacklyn Jordan, President and CEO of Capital Access Group. “The 504 program is first and foremost an economic development program, and this exciting company is expecting to double in size from 25 to 50 or more employees in the next few years. The new jobs will contribute significantly to the Fremont economy.”
“The 504 loan’s low down payment made it a lot easier for us to expand,” said Israni. “The loan helped us preserve working capital to use for other parts of the business.”
“Working with Capital Access was a great experience,” said Israni. “They were easy to work with, they made everything easy, and they made sure we met all of our deadlines. I would definitely recommend them.”
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 4.80%, fully amortized and fixed for 20 years. For more information, please visit http://www.capitalaccess.com.
Ken Stram, 2Bridge Communications, http://www.capitalaccess.com/, +1 (415) 652-3610, [email protected]
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