Small Biz Buying Office Spaces With Government Help

The issue of whether to rent or own is just as important for small businesses and their office space as it is for potential homeowners. But in uncertain economic times, it’s hard to part with the 25% or more down payment in cash.

The number of small business loans from big banks has been down for several years. In 2010, community banks starting stepping in to provide the loans big banks wouldn’t approve.

The government’s SBA 504 loan plan allows business owners to pay much less down on commercial real estate while still getting favorable loans. The SBA covers 40% of the loan, banks cover another 50% and most borrowers only have to pay 10% cash up front according to the SBA’s website.

By Deanne Katz, Esq.

Full Story: http://blogs.findlaw.com/free_enterprise/2012/07/small-biz-buying-office-spaces-with-govt-help.html