Our apologies for the lag in communication, but here’s the deal: right now (right this minute) is a really good time for small business owners to buy, build, and/or refinance their commercial real estate. How do we know? Well, we don’t have any studies or statistics or research to cite (per se), but what we do have is firsthand experience with what’s going on in the industry.
Get this: the second quarter of this year was the best quarter we’ve ever had in 15 years of doing small business commercial real estate lending. In Q2 alone, we closed 12 small business commercial real estate loans worth $115.7 million in total project costs across five states (Arizona, California, Louisiana, New Hampshire, and Pennsylvania – that’s a pretty good cross section of America). Those 12 projects included the acquisition of several commercial office buildings, the purchase of a warehouse facility, the acquisition of two retail condos, several ground-up construction hotel projects, and the construction of a memory care facility. For the first half of 2017, we’ve closed a total of 30 commercial real estate loans worth $203 million in total project costs, and those loans have helped create or retain 753 jobs in 11 states. Things are going up and to the right at the moment, and small business owners thinking about commercial real estate ownership ought to consider taking action soon.
We’ve been pretty busy so far this year, but not too busy. Never too busy. If you have a project you’d like us to take a look at, whether for you or one of your small business clients, don’t hesitate to call or email. And if you’re unconvinced that now’s a really great time for small business owners to be buying and building and refinancing their commercial real estate, call or email us and we can talk about it. Better yet (and speaking of up and to the right…like the northeast), if you’re planning to be at the America East Conference in Boston next week, come by booth #14 and see us in person. We might not be much to look at, but boy do we know a lot about SBA 504 lending.
Okay. See you out there. Or maybe we’ll hear from you soon. Either way, thanks for taking the time to read this email. Now make it a real great day.
– Your SBA 504 Experts