AVANA Capital To Serve as Gold Sponsor of 2014 National Association of Certified Development Companies Annual Meeting (NADCO)

AVANA Capital will serve as a Gold Sponsor of the 2014 NADCO Annual Meeting, and will have a significant presence at the important event.
 
The conference, which will be held from April 30 to May 3, 2014 at the historic Broadmoor Hotel in Colorado Springs, Colorado, is a key gathering for information and education surrounding the Small Business Administration’s Real Estate Advantage (SBA 504) loan program and the Certified Development Company (CDC) industry.
 
The Annual Meeting features speakers from the U.S. Small Business Administration, industry leaders, congressional and subject matter experts. Key networking events throughout the Annual Meeting provide members with one-on-one access opportunities between CDCs and lenders, vendors, SBA leadership, congressional staff, and industry experts.
 
AVANA Capital will be at Booth #25 at the event, which will feature information on the company’s innovative approach to commercial lending — as well as a complimentary microbrew tasting from Bristol Beer for attendees, as well as a drawing for two Fitbit Flex exercise bands.
 
“We are looking forward to being a part of this important conference and forum for discussion of the latest in the commercial lending industry,” said Sanat B. Patel, Managing Partner of AVANA Capital. “This is a great opportunity for people in the industry to learn how to get more deals done and what tools are available in the current business environment.”
 
AVANA Capital specializes in SBA 504 loans. A recent example is a transaction the company completed for California-based MachineTek, which provides fabrication and profiling component services for companies like SpaceX, Bell Helicopter, Northrop Grumman and Lockheed. Recently, the 20-year-old company finally had the opportunity to purchase the 21,000-square-foot manufacturing facility it had been leasing since 2008. But because of the economic downturn, MachineTek had only modest financial results in recent years — making it extremely difficult to finance the purchase.
 
Then the owner, Kevin Darroch, a disabled veteran, found AVANA Capital. The SBA has an entire section dedicated to Disabled Veteran Small Business Owners, and working alongside the CDC and coordinating closely with MachineTek’s management team, AVANA Capital was able to find an SBA 504 loan solution for MachineTek to purchase their existing space.  The approximately $2.4 million deal not only helped MachineTek with the financing and renovation of the building, it helped stabilize the company’s finances, preserving an estimated 39 jobs in the process.
 
The word “AVANA” means “preserver” in Sanskrit, and the company’s motto is “Preserving Wealth. Creating Growth.”  AVANA Capital provides a variety of loan products, such as SBA 504, SBA 7(a), and USDA B&I loans, and also allows for construction and tenant improvements. With AVANA Capital’s ability to also offer interim loans as well as participate with other lenders, more loans are originated and funded for companies looking to grow. This allows more lenders to fund on loans when they may have legal lending limitations or concentration issues, especially in special purpose asset types such as Hotels, Assisted Living Facilities, Funeral Homes, etc. (for which AVANA Capital has a healthy appetite). For more information on AVANA Capital and its products, visit www.avanacapital.com.

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