Throughout October, Women's Small Business Month, we are celebrating the successes of women-owned businesses that have benefited their companies and their communities through the 504 Loan Program.
Lori Aungst, an Atascocita, Texas mother of three and former elementary school teacher, had trouble finding quality childcare in her community. Her passion for education and her love of children led her to open Kids Playce Learning Center & Daycare in 1999 in a tiny strip mall. As the need for all day and afterschool childcare in the area increased, the facility was simply too small.
Lori approached Community Business Finance for loan to construct a new facility with increased capacity that would be multi-functional and allow for growth. She was able to obtain funding from the Texas Mezzanine Fund to assist her with the down payment. This organization provides financing for businesses in distressed and under-served communities throughout the State of Texas. In addition, the low fixed interest rate of the 504 Loan Program provided her with a reasonable mortgage payment without depleting her cash reserves.
Critics believed the small operation would never make it in such an extraordinary facility, but time has proven them very wrong. In fact, the new facility provides jobs for dozens of employees and cares for many local children in its 12 classrooms. In addition, three age-specific playgrounds, indoor basketball courts, a movie theater, cafeteria, library and computer lab provide many needed, varied childcare services.
Lori is thrilled that her dream of 15 years ago has been realized in a thriving business, surrounded by the happy children in her care, and Community Business Finance is excited to have been a part of her success story.
Contact Community Business Finance today to see why our 504 Loan Program is the right choice for your business financing, and why we are the right lending partner to build your business dreams.
You can get started with a 504 loan by filling 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.