Established as a non-profit corporation in 2001, Small Business Development Corporation focuses on the economic development of underserved communities in California.
Business acquisition funded through Pacific Mercantile Bank providing 90% financing. This is an existing and successful longtime general automotive repair business located in Saugus, Santa Clarita. Shy Kilislian always dreamed of owning his own automotive repair business.
Proceeds from the Five Star Bank loan will support construction of a new 45,000 square foot theatre complex built on land donated to B Street by the Sutter Medical Center. The project will contribute to the City of Sacramento’s Mid-Town District Redevelopment Plan, support tourism, add to the City’s cultural amenities, and its citizen’s quality of life.
Family Service assn.
The SBDC-OC administered the $2.5 million loan supported by IBank’s SBLGP through the Banc of California. FSA used the funds to refinance business real estate loans, refurbish facilities, and to make energy saving improvements.