The hardest easy solution to SF’s small business crisis: Buying the building

(English)

San Francisco’s small businesses are in crisis. A number of factors are driving even decades-old businesses to close their doors: difficulty hiring employees due to the city’s housing crunch, competition with e-commerce and on-demand delivery giants, and extra pressure from city-imposed mandates. But there is one factor business owners can theoretically control: buying their spaces instead of leasing them, as a hedge against skyrocketing commercial rents.

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SBA 504 Real Estate Loan From TMC Financing Enables Locally-Owned Countertop and Flooring Company to Expand

(English)

After answering to five different building owners and enduring regular rent increases, Judy Beckowitz, president and owner of American Countertops & Floors, decided the timing was right to invest in herself and her growing company. With the help of an SBA 504 real estate loan from TMC Financing, she was able to purchase a 5,557-square-foot office and warehouse in North Las Vegas.

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The newly passed CARES Act allows for 6 months of debt forgiveness and offers two loan programs, Payroll Protection Program and the Economic Injury Disaster Loan.CLICK HERE FOR: COVID-19 Updates & Small Business Resources
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