SBA 504 Lending and Small Business News: July 14, 2016
Capital Access Group, a commercial real estate lender specializing in U.S. SBA 504 loans, has announced that it will provide $20,000 in funding to support the Renaissance Entrepreneurship Center. Renaissance is a nonprofit social impact organization located in cities throughout Northern California that provides business training and support services, access to various resources, and networking programs. Capital Access Group’s grant will be specifically used to fund Renaissance’s women programs as well as their Small Business-Big Impact annual event.
Planning should be considered the most important step in building your first self-storage project, something first time developers often skimp on. Steve Hajewski, marketing manager at Trachte Building Systems, writes for Inside Self-Storage that investors should take feasibility, timeline, budgeting, and construction more into account in order to create stronger investments within their projects. Hajewski recommends placing down payments on the project at least two months prior to you trying to obtain SBA financing in order to have the appropriate documents ready.
Small-business crowdfunding has been off to a sluggish start after years of delays. According to The Columbian, “fewer than 50 small businesses have been listed on websites that are authorized to solicit investors in the companies since the government gave crowdfunding a green light on May 16.” This is attributed to the strict regulations the SEC has created, which exist to protect unsophisticated investors who don’t understand that they might lose their money without any sort of return. Although crowdfunding has been picking up recently, analysts belief this is mostly attributed to “friends and family” investors, not investors looking for a return.
8+1 (That’s 9) Things You Need To Know
- The state of women-owned small businesses
- How to stay independent as a hotel in the age of soft brands
- Fortifying a self-storage facility for security and marketability
- What it takes to be a successful hotel CEO in 2016
- Simple ways that hotels can reduce abandoned bookings
- Three hiring strategies for small-business owners in today’s market
- The importance of stellar branding when building a new business
- Clinton’s new small-business plan and how is taking down Trump
- The state of small business: Delaware