US Hotel rooms under construction are up over 20% from a year ago, according to the STR Pipeline Report, and consumer demand is still increasing. In fact, economy hotels in the planning or construction phase are up a whopping 63%! How can hotels, especially smaller hotels, afford to keep pace with such soaring demand? Since hotel properties are not easily converted to other uses, they are considered special purpose properties by commercial lenders. This designation makes financing harder to acquire.
The Federal Reserve finally raised its key interest rate in December 2015. The rate hike is a small one, but was widely expected. The Federal Reserve put interest rates near zero during the financial crisis seven years ago, in December 2008, to help stimulate the economy and boost the housing market.
As Community Business Finance looks forward to another year of providing business loans for business dreams, we are kicking off 2016 by reviewing ten success stories made possible by our 504 Loan Program. The 504 Loan Program is historically underutilized, and we are passionate about providing access to this type of loan, as well as educating borrowers on the benefits that 504 loans can provide.
We conclude our two-part series with five different borrowers that each used a 504 loan to meet their unique business needs.
Community Business Finance looks forward to another year of providing business loans for business dreams. We want to kick off 2016 by reviewing ten success stories made possible by our 504 Loan Program. The 504 Loan Program is historically underutilized, and we are passionate about providing access to this type of loan, as well as educating borrowers on the benefits that 504 loans can provide.
In this two-part series we begin with five different businesses that each used a 504 loan to meet their unique financial needs.
When searching for business financing, you are bound to have questions. We have collected some of the more frequently asked questions from companies that we proudly financed with Community Business Finance's 504 Loan Program.
Community Business Finance had much to celebrate in 2015, including our 10th anniversary. Over the last ten years, Community Business Finance has proudly approved more than 200 loans for a total of over $150,000,000, and created over 2,300 jobs throughout Texas and Louisiana. While we are honored to have helped so many businesses realize their dreams, ultimately our goal is for any business that wants a 504 loan to have access to a 504 loan, or any loan that best suits their business needs.
According to data from the Houston District Office of the Small Business Administration, the total dollar amount of SBA loans issued to Houston-area small businesses increased by 15% in fiscal year 2015. FY 2015 saw more than $804 million in SBA loans, up from $688 million in FY 2014, for a record-setting lending year.
This Saturday, November 28th, is Small Business Saturday. Positioned between Black Friday and Cyber Monday, Small Business Saturday allows us to use our holiday shopping dollars to recognize the importance of small businesses and the contributions they make to our communities and our country's economy.
As Community Business Finance celebrates its 10th anniversary, we enter this holiday season by offering consumers 10 reasons to support their neighborhood small businesses on Small Business Saturday.
Most business owners will eventually confront the issue of whether to purchase or lease their office space. It is important to remember that by not owning your business property, you are forfeiting substantial financial benefits that could improve your bottom line. Now is the time to consider property ownership, and Community Business Finance's 504 Loan Program offers a way for businesses to purchase commercial property with as little as a 10% down payment and a below-market fixed interest rate.