Are You Looking to Own Your Business Property
Instead of renting space for your business you can own the property. Low down payment and low interest rates available for small businesses. The advantages are just like owning a home versus renting your home. The opportunity is even grater in this market. Today the prices of commercial property continues to go down. This makes us near bottom in prices. Prices are where they were 4 years ago. Just like investing in stock or any thing else it is always best to buy low. Now is the time to own the property you operate your business out of instead of renting.
SBA 504 Program
The conditions for small business owning commercial property just keep getting better. The 20-year fixed interest rate on SBA 504 loan projects has fallen to 4.93% — the second-lowest monthly rate in the 24-year history of the program. Put that together with decreased commercial property values and all the inherent benefits of the SBA 504 loan program (as little as 10% down; longer terms, below-market fixed interest rates), and you have a “perfect storm” for Smarter commercial property ownership.
Additional Income as Well
When you own the property you operate your business out of you create equity as you make payments and as the property appreciates. If you choose a mixed use property and your business occupies at least 50.01% of the square footage, you can collect rent and even lower your costs of doing business. Now is the time to own your business property.
Commercial Real Estate Loan
Even though financing is tight if you have good credit and have been in business for 3 years you can qualify for financing with as little as 10% down. Even if you have not been in business for 3 years a start up company may qualify for rates with as little as 15% to 20% down payment. This is lower than all other commercial real estate loans for single use small businesses. Take advantage now!
Creative Financing Options
With the commercial real estate market in an uproar many sellers are willing to work with buyers to help them qualify for financing. Yes it is a buyers market today. This means that there are many opportunities for creating financing options. This can help you qualify and own today while the best opportunities and prices are available with the lowest interest rates in years. So seriously consider the benefits to owning your business property instead of renting.