Capital Access Group (www.capitalaccess.com), a commercial real estate lender specializing in U.S. Small Business Administration 504 loans for growing businesses, recently helped Lisa Durbrow and Cydney Shald, co-owners of Longview Stables, to secure $2.65 million in total project financing through the SBA 504 commercial real estate loan program to purchase an equestrian facility located in Novato, California. The property includes 15.1 acres of land, a residential building, and multiple horse stables and riding arenas.
Lisa and Cyd are well known for their unbridled attention to nurturing meaningful connections with their riders and horses, and with each other. The mother/daughter team has been in business together since 2010. They currently lease space in Nicasio Valley, California, and will move their business to the new property later this year.
“Mom and I have a great business that we really enjoy, and we wanted to find a property with a little bit of open space for the horses,” said Cyd.
Becoming a property owner can be an emotional roller coaster, but not if you have Capital Access Group on your side.
“The only way that we were going to be able to secure this purchase was with the 504 loan,” said Lisa. “Our banker told us about the program, and Capital Access Group took a leap of faith in us and our business. They had faith that in what we could do.
“Your vision can only go so far when you lease, because at the end of the day you're putting money into somebody else's dream,” she continued.
The importance of owning property, especially an equestrian facility, is paramount as available land in Marin County is being slated for commercial development.
“In Marin County, this kind of acreage is pretty special,” said Lisa. “It links us up to nine miles of trails, something we don't have right now.”
“We're also looking at a piece of land that's been over-used for years,” said Cyd. “It's in an amazing setting, and I think the land just needs to be able to rest. Our goal is to condense the horses into a couple of areas, fix the arenas, and then just have a little bit of open space on this land.”
“We were so happy to help Lisa and Cyd purchase this property to secure their business for the long-term,” said Claudia Cohen, SVP, Capital Access Group. “We also enjoyed working with a mother-and-daughter team of business owners. Cyd was pregnant during the loan process, and as a woman-owned business, we can identify. We all wanted to make the process as easy as possible for Cyd, Lisa, and their family.”