With the SBA 504 Loan, couple fulfills dream of owning a winery in Placerville, CA
- Loan Purpose: Start-up, Special Use Property
- Location: Placerville, CA
- Project Cost: $2,128,000
- Financing: 80% Financing, 3.02% 25 year fixed rate
- Jobs Created: 2
- Jobs Retained: 4
The borrower and his wife had dreamed of owning a vineyard since their first trip to Tuscany back in the early 2000s.
He built and grew a successful and respected commercial tile company in Michigan. He found a mature winery in Placerville, California that had been operating since 1974 and the elderly owner was ready to retire and sell. The borrower made upgrades and improvements to the property, expanding the tasting room, bringing in entertainment and refreshing the respected brand.
Coming in the wine business is a new venture for he and his family, but pride, passion, tenacity, and hard work are nothing new to him. His personality traits and business sense are what drives success, teamwork, camaraderie, and customer experience.
Stay up to date with AmPac News
Are you ready to finance growth?
Click apply now, setup and account, and get access to applications and assistance.