Tom Elston, DVM owner of T.H.E. Cat Hospital in Tustin, California was looking for a way to finance business growth without increasing operating expenses. The company has provided medical services, boarding, and grooming exclusively for felines for more than 25 years.
Dr. Elston was referred to CDC Small Business Finance by his bank for help with obtaining low rate financing to support his goals. Since the business owned their commercial real estate, CDC was able to offer a refinance loan with a lower interest rate and better terms, effectively lowering their monthly payments. CDC accomplished this for the business by providing an SBA-504 Refinance Loan.
The loan from CDC enabled the company to refinance their 5,000 square foot building, hire additional employees, update equipment, and expand their marketing. “With the 504 Refinance, we expanded our marketing efforts and business has started growing again!” says Dr. Elston.
Watch this video to see how T.H.E. Cat Hospital expanded their business with financing from CDC Small Business Finance:
CDC Small Business Finance is a not-for-profit lending organization dedicated to helping small businesses grow and create jobs. Acting as an advocate for business owners, we work with you from start to finish – through navigating financing terms, securing approval and finalizing your loan – to ensure you receive the best financing for your needs. Learn more here, or contact the local CDC Loan Expert in your area to discuss your business goals.