SBA 504 Loans for Retail Buildings and Condos
Are you looking to purchase the retail building that you’re currently occupying? Have you outgrown your present location and need move to a larger retail space? Do you want to move to a better location that you can renovate or build to suit your specifications? We have helped hundreds of business owners in your shoes and we would be honored to help you too.
15 years of Experience
The SBA 504 loan, the loan we specialize in, is the perfect option for business owners who are looking for a small business loan to help them purchase, renovate, build, or refinance their own retail building. We’ve closed over 680 loans in our 15 years in business, and we know how to expedite your loan over the finish line. We’ve financed retail spaces for a wide variety of purveyors including: clothing boutiques, hair salons, retail showrooms (from furniture to boat dealers and anything in between), dance studios, martial arts academies, and high-end jewelers.
Build your Retail Building with the Future in Mind
Beyond the ability to preserve more working capital and save money with long-term below-market fixed interest rates, small business owners that utilize the SBA 504 loan have the ability (if they choose) to rent out a portion of their newly purchased or constructed retail building and increase their monthly cash-flow. Under the SBA 504 guidelines small businesses are required to occupy 51% or more of their owner-occupied property (60% for ground-up construction). This means they can purchase or build a larger structure than what they currently need, rent the extra space to a third party, and receive additional cash flow to assist with their monthly payments. As an added benefit, these owners with growing businesses that purchase a retail building with excess capacity have locked in their occupancy costs for future expansion. They may rent out the additional space for years, and when they need it, it’s available to them without incurring higher rents that only benefit the landlord. Contact us today to discuss how we can help you.