Folsom, Calif. – (June 7, 2024) – In a story Thursday about West Sacramento businesses prepping for the Oakland A’s upcoming move to the Capital Region, CBS 13 News highlighted SAFE’s Credit Union's commitment to economic development in the area.
The credit union's commercial loan team recently assisted the Ernesto Delgado Hospitality Group to purchase the property of West Sacramento’s historic Sal’s Tacos, on the corner of 4th and C streets near the I Street bridge, with a Small Business Administration (SBA) 504 loan.
Watch the story.
Reporter Rachel Wulff interviewed SAFE Credit Union Senior Business Development Officer Eric Grabin about how the investment in the treasured restaurant is supporting the community and about how the credit union supports businesses with loan products.
"One of the resources we that have is working with the Small Business Development Center here in Northern California," says Grabin. "We can help put business plans, projections – put the whole loan package together."
SAFE Credit Union’s commercial loan team recently assisted the Ernesto Delgado Hospitality Group, that also operates Mayahuel, La Cosecha, Mesa Mercardo, and Octopus Baja in downtown Sacramento and Carmichael, to purchase the property of West Sacramento’s historic Sal’s Tacos, with an SBA 504 loan.
The SBA 504 loan program allows for commercial real estate financing at good market rate terms. In most cases, the loans require a 10% down payment towards commercial purchases.
In addition to consumer services, and unlike many credit unions in the region, SAFE offers business services including commercial loan products.
SAFE Credit Union Senior Business Development Officer Eric Grabin discusses commercial loan resources with reporter Rachel Wulff.
A not-for-profit credit union, SAFE shares profits with its members through dividends and low interest loan rates.
For more information email [email protected].
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About SAFE
SAFE Credit Union has made members an integral part of its vision since 1940. Over the years the credit union has kept the focus on what really matters, putting members first, a formula that has seen SAFE grow into a leading financial institution in Northern California with $4.6 billion in assets and about 236,000 members. SAFE crafts every cutting-edge product and sterling service with members’ needs foremost in mind. In addition to banking services conveniently available through online, chat, mobile, or phone options, SAFE offers in-person services for members and small businesses at service centers across the Greater Sacramento region. SAFE is a not-for-profit, state-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, Amador, and Alameda counties. Insured by NCUA. www.safecu.org