2 Reno-area businesses finalize SBA loans to buy office headquarters
RENO, Nev. — Benson Brothers Racing, LLC — owned and operated by brothers Kenneth and Matthew Benson since 2004 — recently purchased a building at 6 Carry Way in Mound House, Nevada, to serve as company headquarters.
Nevada State Development Corporation helped facilitate the $657,000 purchase with a low-interest SBA loan, according to a news release provided June 12. City National Bank also contributed to the financing package.
The Benson brothers opened the business to focus on building custom track and road racing vehicles, and the majority of their business still comes from the fabrication of custom road racing cars and high-performance street cars.
The business has also expanded to include services such as maintenance, oil changes and upgrades to diesel trucks used to tow custom race cars to racetracks.
“We couldn’t be more excited to own our own building outright,” Kenneth Benson said in a provided statement. “We’re always looking for ways to better serve our clients and expand our operations, and this move puts us in a great position for the future. As business owners and race car enthusiasts, we are doing what we love, and now we can take even more pride in owning our headquarters.”
Evan Dickson, president of Nevada State Development Corporation, said the business “represents a true Nevada success story.”
“The Benson brothers spent a lot of blood, sweat and tears in building their company to the success it is today,” Dickson said in a statement. “Buying their own building is a huge step forward for this family-owned company.”
Welcome Home Property Management & Investments buys office
Also on June 12, Nevada State Development Corporation announced it helped secure a low-interest SBA 504 loan for Welcome Home Property Management & Investments, Inc., to allow the real estate management firm to buy its offices at 500 Damonte Ranch Parkway, Suite 944, in Reno.
Wells Fargo Bank also contributed to the finance package, according to a press release.
“Our business was expanding so quickly that we had to turn down a number of potential clients, and we ended up referring them to other property managers,” Erika Lamb, founder of Welcome Home Property Management & Investments, said in a statement. “That was costing us a significant amount of revenue. However, with the purchase of this building, and the extra office space that comes with it, we will be able to offer our services to many additional customers, allowing the company to grow and thrive.”
The new office will reportedly provide an additional 4,764 square feet of space for Welcome Home Property Management & Investments, of which the firm will occupy 4,220 feet immediately. The remaining square footage will be leased to a third-party tenant until it is needed by Welcome Home.
Lamb founded Welcome Home Property Management & Investments in 2014. She got her start by working after school and on weekends at the age of 14 for a multi-family HUD community in North Reno.
She is a licensed Realtor, is designated as a Certified Residential Specialist and Residential Management Professional, and has a Military & Veteran’s Housing Certification and an International Property Specialist Certification.
For more information on Nevada State Development Corporation, visit http://www.nsdc.com.
Transient Occupancy Tax collection from April to June totalled $3.8 million, up 15% from the same period last year, an increase of $519,000. Tax collection from January through March was up 12% from that period last year, a $773,000 increase, totalling $6.8 million.