What do you get when you take three separate, successful law practices with five lawyers, support staff, books, files, etc., merge them into one dynamic firm and wedge them all into one smaller rented office space?  That was the situation Kirk Evenson of Marra, Sexe, Evenson & Bell, P.C. presented when he began his discussions with us:  

“In the summer of 2005 we had recently merged with another law firm and needed a new place to roost.  We were crammed into 2,500 square feet and needed more like 4,000.  We found an ideal property, but it was for sale, not rent.  While exploring financing options, we came upon the helpful folks at Montana Community Finance Corporation (MCFC).  The SBA’s 504 program was an ideal way for us to get into the property and exercise our plans for our expanding firm, without the need for a conventional 20-25% down payment.”

Working with Amy Ward of Heritage Bank in Great Falls, Kirk assembled an application to purchase the unit and remodel it to suit their growing practice.  MCFC’s years of experience in packaging applications for submission to the SBA resulted in a 30 day loan approval, meeting the time line set by the sellers.  The result: comfortable offices were provided for everyone along with a gracious reception area, conference rooms, law library; even a restful sky lit seating area surrounded by plants and a water fountain.  Now there is also room for future expansion. 

From Kirk - “Linda Kindrick and Sherry Colvin could not have been more helpful.  The transaction was seamless, in large part due to their expert help.  Heritage Bank and MCFC have been fantastic partners.  We couldn’t be happier.”

From the lender:
I was impressed at how easy and smooth the 504 loan process was, with nothing difficult encountered.  The staff at MCFC followed up with all parties, effectively using e-mail and phone calls, keeping everybody in the loop as we worked through the application.  This helped everything move very smoothly.

Our bank chose the 504 program because the customer did not want to come up with a large down payment on the purchase.  Other financing options would have required more down than what could be offered through the 504 program.  Had we used the 7(a) program, the guaranty fee would have been higher than what was available on the 504 and the borrower would have needed a larger down payment. The 20 year term offered through this program was also very attractive to the borrowers.  I also liked the fact the staff at MCFC did all the interaction with the SBA, and will continue to do so through the life of the loan.

The experience and knowledge of both Sherry and Linda was invaluable!  I could e-mail or call them with a question, and they could answer it off the top of their heads, keeping the number of call backs to a minimum.  I am looking forward to working with MCFC again in the near future on another project!