Flex Office Trend and the Small Business Persons of the Year…
Flex Office Is Growing in Urban Markets
According to JLL, flex office space is growing by an average of 33 percent each year, accounting for almost two-thirds of US occupancy gains. No markets are over-saturated, and there are plenty of opportunities for this type of asset in many US metropolitan areas. The top ten growth markets are New York City, San Francisco, Silicon Valley, Austin, Boston, Northern Virginia, Washington DC, Seattle, Denver, and Los Angeles’ Westside.
Arizonans Named SBA Small Business Persons of the Year
Jennifer and Jeff Herbert, founders of Superstition Meadery in Prescott, Arizona, were named 2019 SBA Small Business Persons of the Year. They produce mead (fermented honey with fruit, herbs, and spices), the world’s oldest known alcoholic beverage. The Herberts grew their $5.5 million, 140-employee, two-locations business with SBA financial and counseling support. An SBA 504 loan covered the costs of constructing its new distribution and franchise support center in 2017.
What You Need to Know About SBA 504
TMC Financial’s CEO Barbara Morrison spoke about SBA 504 lending to cpexecutive.com. She was asked about the three main things borrowers don’t usually know about 504 lending. One thing she said was that many business owners are unaware of the program and its 10% down payment, which she called a “game-changer” for many owners. Other business owners weren’t aware they qualify as “small” business owner. “The SBA’s definition of ‘small’ is substantially larger than what most people assume. The truth is, most for-profit businesses qualify,” she said. Morrison also said that there is a misconception about how long it takes to get SBA financing.
Liberty SBF Adds New Originator to Fast-Growing National Team
Liberty SBF is excited to announce that Carlos Vasquez, MBA has been appointed VP, Originations, a new originator on our fast-growing national team of top-ranked commercial real estate professionals. Based in Austin, Mr. Vasquez will further increase our capacity to provide high leverage fixed-rate SBA and conventional loans in Texas.
How Can We Help You?
Liberty SBF offers quick closings for SBA 504 and conventional loans. We’d love to help you.