Is your current location stifling your growth? Do you need to increase your production capacity? Is your landlord selling your location? Community Business Finance's 504 Loan Program is the right tool for your financial needs. We understand that taking the first steps toward business expansion can feel overwhelming, or that sometimes the unexpected happens. Community Business Finance believes in the power of its 504 Loan Program and the freedom that this financing can provide. We'd like to share some success stories to illustrate how 504 loans have positively impacted our clients.
Hugo's Needed to Purchase Property Quickly
When Hugo's restaurant opened in 2002, the owner chose to lease a property and make renovations to see if their venture with authentic Mexican cuisine would take off before buying a property. Three years later, the property's owner was approached with an offer from another buyer. Luckily Hugo's had the foresight to make sure their property lease included a "right of first refusal" clause. The clause allowed them the right to make a counteroffer to secure the property, but didn't give them much time to stow away cash or make any complex plans about financing. Luckily, their banker had heard of Community Business Finance and their 504 Loan Program. Community Business Finance helped Hugo's buy the property so they could avoid the financial costs of moving and the business impact of changing locations on their loyal customer base.
Read the rest of Hugo's success story.
Advanced Pharma Needed Space to Expand
Advanced Pharma was a booming business. While this growth was exciting, the owner found it difficult for his facility's size to keep pace with the increased demands of his clientele. Advanced Pharma occupied over half of a 35,000 sq. ft. multitenant building and wanted to acquire an extra 6,000 sq. ft. When the owner approached the landlord, he offered to sell the building to Advanced Pharma. Property ownership appealed to the owner, but he had concerns because the seller wanted a quick turnaround. He turned to Community Business Finance for help.
With Community Business Finance's support and experience, the owner's conditions were met on time. As a result of using a 504 loan, Advanced Pharma's monthly payments are lower than the previous lease rate. They used the extra savings to pay for property taxes, maintenance, and utilities. Owning the building also adds a large asset to their portfolio, and they can utilize their lower monthly payments to divert cash to their expansion process.
Read more about Advanced Pharma's success story.
The Fish Gallery Needed Out of a Bad Lease
The Fish Gallery had a dispute with their lease terms, so the landlord released the owner from his contract. The owner agreed to move out and began to consider property ownership, rather than another leased location. He approached his bank about a property loan and was told, "don't even think about it." The owner was declined for a conventional loan 12 times over the next 18 months. Things changed when he chose to partner with Community Business Finance. Community Business Finance agreed The Fish Gallery was a good candidate for its 504 Loan Program and got it done in a few weeks. The 504 loan helped the owner escape a really bad lease and buy his own property. He cut his overhead by 40% and began building equity.
Read about The Fish Gallery's success story and the benefits of property ownership.
Whether your business is expanding or your circumstances have changed, our 504 Loan Program is the right tool for your financial needs.
To Get Started fill out a short online form and a loan expert will contact you.
You can also contact our offices:
In Texas call Bill Ebersole at 713-457-1650, ext. 201, or email him at firstname.lastname@example.org.
In Louisiana, call Jeanne Bergeron at 1-800-462-1017 or email her at email@example.com.