Sarah Thornton started her public relations firm, Connected Communications, in 2007 and set a goal to one day buy her own office space. Fifteen years later, she was able to purchase a building in the southwest Las Vegas Valley.
Thornton credits a loan from the U.S. Small Business Administration known as the 504 Loan Program, which helps small businesses purchase real estate and other assets such as equipment.
“I wouldn’t have been able to purchase office space without (the 504 loan),” Thornton, president of Connected Communications, said. “I was able to purchase this building with 10 percent down versus that traditional 20 percent down. I wouldn’t have been able to buy the building if I had to put 20 percent down.”
Thornton purchased a 2,000-square-foot office space near the 215 Beltway for $784,000. The company moved into its new digs in October.
She said the new location is a big improvement over the firm’s previous office, which was two smaller offices totaling 220 square feet with a monthly rent of $2,500.
“It’s a nicer space than we were in,” Thornton said. “We’ve definitely had the ability to improve the office space to fit our needs perfectly.”