Sacramento-based Leatherby's Family Creamery has acquired the property that houses one of its existing restaurants with a $2.7 million Small Business Administration loan.
The transaction to acquire the 36,800- square-foot building at 2333 Arden Way in Sacramento was overseen by TMC Financing in San Francisco.
Leatherby's also operates ice cream shops/restaurants in Citrus Heights and Elk Grove.
"The process has allowed us to finally own our own building that we have been leasing for the last 32 years," said Alan Leatherby, co-owner of Leatherby's Family Creamery, which employs nearly 300 locally.
"Leatherby's now owns the property at which their business has flourished for many years, enabling them to retain working capital and expand the business to future locations," said Jim Azevedo, TMC's senior vice president of business development.
Azevedo is among a group of lending specialists snatched up by TMC after Folsom-based EDF REsource Capital closed in December, when the SBA revoked its authority to issue SBA-guaranteed loans.