We know many of you often ask the question should I lease or purchase my childcare centers building. In this episode we hope to shed a little more light on the pros and cons, we provide an overview of the childcare real estate industry and discuss the potential it holds for investors. We also dive into the details of the 504 SBA loan and how it can be utilized to finance childcare centers. Erica shares insights on her experience purchasing, flipping, turnkeys and leasing several commercial childcare centers over the past 16 years including securing a 504 Loan.
Resources:
Check out Erica's interview with Mark Hayward the Rhode Island SBA District Director on our sister podcast Practical Bizz Podcast YouTube Channel for more information about SBA loans available for childcare centers.
Description: If you are starting a business or ready to put your growth plan into action, chances are you will need financing, and a loan backed by the SBA may be the best choice for you. An SBA loan offers flexibility, longer repayment terms, and lower interest rates. In addition, this support from the SBA can help improve your odds of loan approval for funding with your local bank. This week, we are joined by a knowledgeable guest who understands SBA financing on a very integral level in his role as the Rhode District Director; Mark Hayward talks in great detail about the different types of loans. We will dig deep into Microloans, 7A loans, and 504, among other nonprofit agencies that distribute support and funds to the small businesses community backed by the SBA. Our host Erica Saccoccio gives her perspective on SBA loans as a business owner who has secured several different SBA loans during her business journey. After listening to this episode, you will better understand what you need to know to prepare to apply for an SBA loan and the details on what loans you should use when it comes to working capital, equipment purchase, or real estate. We have your guided tour into SBA lending, so grab a cup of tea and a notebook and turn up the volume on those headphones. If you need help with creating a business or growth plan or need a sounding board to help you get started than contact us at www.stellarbusinessconcepts.com https://www.youtube.com/watch?v=eMplW2LKUow
Description: If you want to know even more about 504 and how to apply be sure to check out Erica interview with James Tierney. Are you tired of renting your business space and not seeing any return on investment? It's time to discover the power of a 504 loan! In today's episode, we'll explain how a 504 loan can help you build wealth for your business by allowing you to purchase your own commercial property. With lower down payments and fixed interest rates, this loan option is a game-changer for small business owners looking to invest in their own space. Join us as we break down the benefits of a 504 loan with guest James Tierney from Ocean State Business Development and show you how it can help your business thrive. Don't miss out on this opportunity to take control of your financial future - watch now! https://www.youtube.com/watch?v=YAc4nekIdrc
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