School Innovations & Achievement, an El Dorado Hills-based educational software company, has purchased nearly 45,500 square feet of office space in a $5 million Small Business Administration 504 loan deal.
The transaction for offices at 5200 Golden Foothill Parkway was overseen by San Francisco-based TMC Financing.
SBA's 504 loan program is a key component of financing for small- and medium-size businesses, providing them with long-term capital to buy or improve fixed assets or real estate.
TMC said School Innovations & Achievement wanted to reduce expenses by locking in a below-market fixed rate for 20 years, also enabling the company to add 35 jobs to its payroll.
TMC said the July SBA 504 interest rate is 5.22 percent, fixed for 20 years.
Call The Bee's Mark Glover, (916) 321-1184.