TMC Financing Keeps Auto Repair Shop Local

Imperial Automotive purchases permanent shop location in San Rafael, California, for $1.2 million

TMC Financing today announced the owner of Imperial Automotive financed the purchase of commercial property at 109-111 Verdi Street in San Rafael, California, with a 20-year, fixed-rate U.S. Small Business Administration 504 loan for $1.2 million.

“I’ve been in business 15 years in this location,” said Kevin Reier, who bought the auto repair shop in 2000 after working for years as a mechanic. “Last year, my landlord passed away and the heirs decided to sell the building rather than continue leasing it. They gave me first right to buy, but I thought there was no way I could afford to buy the property.”

"TMC and the SBA allowed me to stay in the location where I've built my business. For my clients, that's big. They buy new cars and I don't see them for a while, but then they need me. They might forget my name or number, but they know my location."

Kevin Reier, Owner of Imperial Automotive

Reier said he had begun to search for a new location to lease when his broker asked him if he’d heard of TMC Financing and the SBA 504 program. “He ran some numbers and said my payment would be the same as rent. I couldn’t believe it, so I went on the TMC website and ran the numbers for myself. He was right,” Reier said.

“This is exactly what the SBA 504 program was made for,” said David Griffis, senior vice president/business development at TMC Financing. “Here’s a successful small business that would be forced to move, if SBA-guaranteed financing weren’t available. Since there’s a shortage of automotive buildings in Marin County, there was a high chance that losing his lease would have forced him out of business.”

“TMC and the SBA allowed me to stay in the location where I’ve built my business,” Reier said. “For my clients, that’s big. They buy new cars and I don’t see them for a while, but then they need me. They might forget my name or number, but they know my location.”

Reier said buying the 5,040-square-foot building allowed him to plan long term, hire an additional employee and invest in equipment. “As a small-business owner, I’ve put my whole life into the business,” he said. “I probably haven’t saved as much for retirement as I should have. But now I have a building that will provide net income in retirement and probably an inheritance for my kids. And because I own the building, my employees know their jobs are stable.”

About SBA 504 real estate loans

The Small Business Administration 504 loan program allows small-business owners to finance commercial real estate and other fixed assets with long-term, below-market, fixed interest rates. SBA 504 loans can be used to finance the total project cost (TPC), which can include the purchase price, construction/renovations, equipment, soft costs and closing costs. A typical 504 loan project requires a down payment of only 10 percent of the TPC from the borrower, with the remaining amount split between a first mortgage provided by a commercial lender and a second mortgage provided by a certified development company (CDC). By enabling owners to keep their capital working to grow the business and create jobs, the 504 program provides businesses and communities long-term stability. Business owners can confirm they meet the qualifications for an SBA 504 loan by visiting the TMC Financing website at


About TMC Financing

Founded in 1981, TMC Financing is the largest provider of SBA 504 real estate financing in Northern California and Nevada. TMC consistently ranks among the top CDCs nationwide, funding projects worth more than $8 billion across California and Nevada. More than 4,700 businesses have benefitted from this financing, resulting in the creation of an estimated 35,000 jobs. For more information on SBA 504 loans and the local businesses they support, visit