While working with small businesses for purchasing property, I am often asked what kind of financing is available. I respond, “Conventional of course, and this ‘thing’ called SBA.” For those of us that aren’t experienced in the difference, I’ve taken a clip from Wells Fargo SBA Lending webpage (click here for direct website or on photo) to better define this “thing” or rather, lets better refer to it as a Program. Small Business Administration (SBA) provides an opportunity for a small business to purchase property with lower down payments and long repayment terms. Below is the difference between the SBA 7(a) and SBA 504 programs that are available.
I’ve found that some companies have experienced an opportunity to purchase a property where they previously could not because of their use of this program.
So there you have it. A quick insight into the SBA loan programs.
Do you need more information or help regarding your commercial real estate? Call today and I’ll be happy to discuss your needs. I’ll even send you a free survey of available properties to help you value your property.
DISCLAIMER: I am not a lawyer, accountant, or an adviser. Nor am I in any way suggesting or implying you or anyone else use Wells Fargo or any other provider for that matter. All information herein is for information and educational purposes only. You must locate and retain your own source of professional information. I do not warranty or guarantee any information to be accurate.
Recently sold industrial warehouse in the San Fernando Valley.
14755 Aetna St., Van Nuys, CA 91411
- 4,150 sf. (bldg.) on 4,150 sf. (lot)
- $871,500 Comp Sale Price
- $210.00 Comp Sale Price/SF
- LAM2 Zoning
- 1951 Year Built
- 5 Car Parking
- Construction type – unknown (appears to be stucco)
- Sale date 12/3/16
Call today if you would like a free survey of industrial warehouse properties – 818-933-7113
*** Data from sources deemed reliable however information not confirmed or warranted for accuracy. Prospective buyers/sellors/lessors/lessees must do their own research.
Industrial market recap 3rd quarter 2016.
“The market is tight,” a standard saying being used around the Los Angeles marketplace for industrial property. Lease rates are increasing. Sales prices increasing. Rates increasing. Will we see a slowing of commercial property demand compression? I don’t believe so… yet.
LA Northwest (SFV) Quick Facts
- # of Bldgs – 3,886
- Inventory (sf) – 122,565,449
- Total Available (sf) – 4,055,666
- Total Vacant (sf) – 1,391,225
- Total Vacancy Rate (%) – 1.1%
- Total Quarterly Net Absorption (sf) – 600,620
- YTD Total Net Absorption – 829,143
We continue to see heavy competition around industrial buildings for sale and lease.
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PS. If you’d like a free survey of available properties OR If you have questions regarding your industrial property for Sale or Lease please feel free to call 818-933-7113 to speak with Ryan.
*Data taken from Xceligent, Inc. 2016 Q3 Market Trends for full report click here. Although data is deemed reliable, Ryan McKenzie makes no warranties as to the accuracy of the information.
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