Lola’s Louisiana Kitchen has opened its second location in Southern Nevada, thanks to an Small Business Administration 504 loan from TMC Financing and Bank of America.
TMC Financing provided $726,000 of the $1,815,000 total project cost to purchase and renovate Lola’s 6,200-square-foot building and outdoor courtyard. Bank of America wrote a loan for $907,500.
Lola’s Louisiana Kitchen, at 1220 N. Town Center Drive, nearly tripled the size of owner Lola Pokorny’s original location near downtown Las Vegas.
The Louisiana native began her culinary career in Las Vegas in 1990 as a personal chef and caterer. Pokorny, who opened her first restaurant in Las Vegas in 2009, specializes in creating traditional and classic Louisiana dishes including jambalaya, etouffee and gumbo.
Pokorny said her decision to open a second location was made even easier when she found the Summerlin location.
“I got lucky with the new building. I fell in love with it,” Pokorny said in a statement. “We now have a 1,000-square-foot outdoor courtyard, a private room that can be booked for special occasions and an edible landscape that is used in our dishes.”
Pokorny said she chose TMC Financing and the SBA 504 loan program at the behest of her banker, Keith Jackson, at Bank of America.
“The interest rate was right and they helped with startup fees,” she said in a statement. “We did a lot of construction to make the location our own, but still had the time and opportunity to get the business open.”
Lola’s Louisiana Kitchen is one of nearly a dozen women-owned local businesses that have opened or expanded with TMC Financing’s help in the past year. Businesses include Hyundai’s Only, Specialty Vehicles, Red Rock Fertility, MC Law Group, Fresh Wata and the Crystal Eller Law Group.
“In Nevada, we have provided more funding to women-owned businesses than any other TMC Financing office in the past year with more than $15 million in 504 loans,” TMC Financing Senior Vice President Ann Santiago said in a statement. “Only 30 percent of Nevada businesses are owned by women, so we are passionate in supporting the growth and development of women business owners in our state.”
For more information on SBA 504 loans and the local businesses they support, visit tmcfinancing.com.
RealtyTech moves servers to Supernap
RealtyTech Inc., a Thousand Oaks, Calif.-based company that gives real estate professionals online marketing tools, is moving its servers to the Supernap in Las Vegas.
In a time of ever increasing bandwidth needs and security concerns, RealtyTech said it has invested in a better facility and equipment to meet today’s needs and future needs for its clients.
“This past year has been an eye-opener for us. The amount of new technology is growing at such a fast rate that what works fine today needs an upgrade in only a matter of months,” RealtyTech CEO Richard Uzelac said in a statement. “The features we had just three years ago are dwarfed by the functionalities of 2015. We made a commitment now to prepare for the future with a substantial investment in infrastructure and security for our clients’ products.”
More than 10,000 client subscriptions and products will be securely housed within the Supernap, supported by 24/7 live personnel.
For more information, visit www.realtytech.com.
Bank specialty group targets senior housing
Wells Fargo &Co. created a specialty business group, Senior Housing Finance, to meet the growing need for senior housing facilities nationwide.
This new specialty business within Wells Fargo’s Commercial Real Estate group will provide a suite of traditional banking and credit services for senior housing developers, investors, and operators working with Wells Fargo’s Healthcare Corporate Banking and Multifamily Capital businesses.
As a larger percentage of the U.S. baby boomer population becomes senior citizens, there is an increasing need for senior housing. Over the next 25 years, the 65-and-older U.S. cohort is expected to grow 67 percent, from 48 million today to 80 million in 2040.
“An estimated 20,000 senior housing units per year will be needed over the next 25 years to meet peak demand,” Senior Housing Finance head Mark Cotsakis said in a statement. “Wells Fargo has been providing financing to the senior housing industry for quite some time, but to best serve the existing and emerging senior housing client base, we saw the opportunity to create a specialty focus on the sector.”