• 10 Advantages of One 504 Loan

    We have exciting news to share at Community Business Finance. Roger DeGregori, owner of Fish Gallery, has opened his fourth store in The Woodlands, Texas. Roger used the 504 Loan Program to continue to expand his childhood hobby into the booming business it is today. We have detailed Fish Gallery's beginning in our Success Stories, where Roger describes how his first 504 loan was a lifesaver for his company.

    Roger reaped many benefits by choosing Community Business Finance's 504 Loan Program, but we'd like to emphasize 10 specific advantages he experienced. You might be surprised by the number of ways your business can improve simply by choosing the right loan.

    1. The SBA was willing to approve the loan when others would not. Roger had approached 12 traditional lenders for a loan, and, due to the economy, was turned down by them all. However, Community Business Finance knew he was a great candidate for the 504 Loan Program.
    2. Community Business Finance got the loan approved fast. After 18 months trying to get a loan from traditional lenders, Community Business Finance got it approved in a few weeks.
    3. The monthly loan payments were lower than his lease payment.
    4. Roger reduced his overhead by 40%. The utility costs in the new building were substantially lower, as well as the property taxes.
    5. Roger was able to start building equity.
    6. Fish Gallery hired 10 new employees. The new building in conjunction with the monthly savings allowed Roger to expand his business.
    7. Fish Gallery survived the recession. With a smaller monthly loan payment and reduced overhead, the savings allowed Roger to keep his business in good financial shape even through the economic downturn.
    8. Roger increased his customer base. It turns out that the new location is even better than the last location, and his customer base grew substantially. Fortunately, Roger had 10 new employees to help him with this unexpected growth.
    9. Roger paid down debt and improved his new property. Again the monthly savings allowed Roger to clear out a great deal of debt and make improvements to his building, which increased the value of his property.
    10. Fish Gallery expanded into Austin. The savings that the loan created allowed Roger to expand his business. Roger notes, "I could only afford this because of the loan package from Community Business Finance."

    Community Business Finance is proud to provide the best available financing terms to the businesses we serve, and we are excited for Roger's continued success. Stay tuned for a detailed update on Fish Gallery's new location in The Woodlands.

    For more information on Community Business Finance's 504 Loan Program visit our 504 School, or contact our offices:

    In Texas call Bill Ebersole at 713-457-1650, ext. 201, or email him at bill@communitybusinessfinance.com.

    In Louisiana, call Jeanne Bergeron at 1-800-462-1017 or email her at jeanne@communitybusinessfinance.com.

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