Tech CU (Technology Credit Union) today announced it has provided an SBA 7A loan to Lee’s Supermarket. The loan funded tenant improvement build out, equipment acquisition and working capital for start-up costs. Located at 2889 Senter Road in San Jose, California, the new store also features aLee’s Sandwiches shop inside.
“At Tech CU, we are excited when we can support family run, community-oriented businesses,” said Joe Anzalone, EVP and Chief Commercial Banking Officer at Tech CU. “That’s exactly what this financing does. The owners own and operate other Lee’s Sandwiches locations within various communities. A full-service supermarket of this size was a new opportunity for them, and we are happy to be their lender on what will be a successful business venture supporting the local community and creating jobs.”
“We opened our first Lee’s Sandwiches in 2003,” said Alan and Jenny Truong, the principals of the new Lee’s Supermarket. “It has always been a dream of ours to open a supermarket such as this, and we are grateful to have found a partner in Tech CU to help us make this dream a reality. As with many construction projects and business startups, there were unforeseen circumstances to overcome, but the Tech CU team was there each step of the way to assist us in getting this project to the finish line.”
Tech CU is one of only a handful of credit unions with comprehensive business and commercial banking product offerings. The credit union provides commercial real estate, multi-family, construction, SBA and asset-based loans, through Tech Capital, LLC, its asset-based lending subsidiary — helping to address the banking needs of small to middle-sized companies and businesses.
For more information on Tech CU’s business loans, visit techcu.com/business/ or contact Tech CU at (800) 448-1467.