Mission Hills Shopping Center – Lompoc, CA
Clearinghouse CDFI (CCDFI) has extended a $1,607,707 loan to Alejandro and Blanca Uribe for refinancing of a previous hard money loan. The purpose of this loan is to revitalize the Mission Hills Shopping Center in Lompoc, CA.
While San Luis Obispo County is known for its wineries and picturesque beaches, certain areas call for economic revitalization. Mission Hills Shopping Center is in one such area, where the majority are low-income or extremely low-income residents. CCDFI financing supports The Uribe’s efforts to revitalize the center while offering a lower interest rate. The center’s 8 units are fully occupied by various businesses, including restaurants, a bar, pool hall, coffee shop, liquor store, art studio, and retail store.
Alejandro and Blanca Uribe are experienced small business owners with several businesses throughout the area including California Tacos and 101 Auto Shop. This experience and dedication promise a brighter economic future for the center and the community it serves.
Read the full story here: Just Funded – Mission Hills Shopping Center
Provides refinancing for revitalization of a Latin-owned retail commercial building in a majority low- to extremely low-income area serving an approximately 15% African American and 65% Latin/Hispanic population
Long-term financing with a lower interest rate to pay off a maturing hard money loan
