Specialized Services Company


LISC’s financing proved to be “an important tool to help us operate tightly and smartly to weather the ongoing challenges and still pursue our strategic plan for growth.”

Specialized Services Company is a family-owned underground utility contractor based in the Sunnyslope neighborhood of Phoenix. Since 1969, the company has provided infrastructure construction services, such as steel casing installation, vacuum excavation, and utility potholing. Marcia Veidmark, the company’s President, CEO, and one of its original founders, needed affordable financing for her business to help it weather the construction recession back in 2012.

LISC put together an SBA 504 financing package for Specialized Services Company that allowed it to replace aging equipment and grow its 28-person staff. According to Marcia, LISC’s financing proved to be “an important tool to help us operate tightly and smartly to weather the ongoing challenges and still pursue our strategic plan for growth.” LISC’s SBA 504 package provided Marcia’s business with better rates and terms than she would have gotten through a conventional bank loan.

The SBA 504 program provides small businesses with long-term, fixed-rate real estate financing with more flexible underwriting standards and lower down payment requirements than conventional bank loans. LISC utilizes federal New Markets Tax Credits (NMTCs) in its SBA 504 financing so that it can make SBA 504 loans with even lower rates and better terms than other SBA 504 loan options. LISC’s 504 financing terms include a three-year interest-only period, lower debt service coverage, and higher loan-to-value requirements.

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