This Saturday, November 26th, is Small Business Saturday. In an interview on The Today Show, SBA Administrator Maria Contreras-Sweet encouraged everyone to "shop small and dine small this 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.
About year ago an entrepreneur who had a dream to open an indoor gun range contacted Community Business Finance. The owner was doing all the right things as a start-up. He was working with a business consultant to create a business plan that explained his vision and supported his income projections.
Has your business become crowded in its current location? Do you need to upgrade your manufacturing equipment? Business growth is good, but expansion is expensive. Financing your business growth needs can be tricky, especially if you rely on the most common methods. Census Bureau data indicate that less than half of existing firms use expansion-specific financing.
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."
We here at Community Business Finance love helping our clients achieve their business dreams. We celebrate each loan as the first step in another success story. It turns out we aren't the only ones singing the praises of the 504 Loan Program. There is an excellent article from CBS MoneyWatch that shines a light on how powerful a 504 loan can be.