At Addesso Marble & Granite World in Norristown, PA, they say every stone is unique and different. You could say the same for every SBA 504 loan, but we can all learn from the benefits of this one!
Addesso had turned to Peoples Security Bank to refinance their loans on two properties before a substantial balloon payment loomed at the end of 2026 on a conventional loan. Refinancing was not new to them. (This almost 30-year-old business had done so on prior occasions.) But time was ticking to refinance the high-risk balloon payment into much more manageable monthly payments.
Working with Seedcopa to facilitate an SBA 504 loan at a lower fixed interest rate, both properties are now refinanced – including paying off a high-interest business line of credit (LOC).
Now a loan structure that weighed down on the business — even more than the natural stone and quartz surfaces they work with — is a thing of the past. The family-owned business can focus on profits, instead of payments, with recent projects like Penthouses in Soho, Michelin Star Restaurants in NYC and homes of several professional athletes in the Philadelphia area.
You can see success with your own eyes at Addesso Marble & Granite World’s showroom and warehouse facility at 252 East Main Street in Norristown, as well as its fabrication facility on West Penn Street. They employ more than 45 people on projects including bathrooms, bar tops, custom floors, custom fabricated pieces, fireplaces, kitchen counters/sinks, outdoor pavers and commercial projects.
Photos courtesy Addesso Marble & Granite World
