• Three Ways a 504 Loan Will Support Business Growth

    Community Business Finance's mission is to help companies expand through its 504 Loan Program. We understand that expansion can be a scary and overwhelming prospect. However, most small businesses are dynamic and choose progress over stagnation. Darren L Johnson said, "Believe it or not, the biggest obstacle for a business owner with any size business is the internal response to the question - 'Now what?' Often this question is followed by a deer in the headlights response, which is then followed by stagnation. Following stagnation comes fear."

    Much of this fear stems from anticipating how growth will impact their finances. Owners worry where the money will come from and if they will literally grow themselves right out of business. Community Business Finance's 504 Loan Program is designed to alleviate those fears with long-term, low down payment, fixed-rate financing. Our loan terms are designed to help your business keep its cash reserves while allowing it the financial freedom to grow.

    The SBA offers tips on ways to grow your business. While this is by no means an all-inclusive list, we have chosen three of their recommendations to illustrate how our 504 Loan Program will support business expansion.

    1. Open another location: If you feel confident that your current business location is under control, consider expanding by opening a new location. The 504 Loan Program is perfect for buying an existing building or constructing a new one. Instead of leasing another location, you can build equity with property ownership.

    2. Diversify: Diversifying is an excellent strategy for growth, because it allows you to have multiple streams of income. 504 loan proceeds can be used to purchase the machinery and equipment needed to offer new products or services. Proceeds can also be used to renovate your current facility, giving you the space you require to accommodate additional production and inventory.

    3. Merge with or acquire another business: Consider combining forces with a company that is similar to yours or has offerings that are complementary. Our 504 Loan Program allows you the option of renovating your current building to accommodate new machinery or production space, as well as the option to purchase the other company's facility. It might make sense to sell the two separate facilities and build a new bigger one from the ground up. The 504 Loan Program can do that, too.

    Again, these are only three examples of how the 504 Loan Program can finance your business growth. No matter the way you plan to expand your business, the low down payment requirement and 20-year amortization of a 504 loan allows you to use your cash reserves for other aspects of expansion, such as hiring new employees.

    There are many ways that Community Business Finance's 504 Loan Program can reduce the fears surrounding business growth. Don't let your business stagnate, get startedtoday.

    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 bill@communitybusinessfinance.com.

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

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