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

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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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Fourth Generation San Francisco Builder Purchases Building to Ensure Long Term Stability for Company

(English)

Walker obtained financing through the SBA 504 Program to purchase a 3,150 square foot mixed used condo located at 3450 3rd Street in San Francisco. The 504 loan allowed Walker to acquire the condo with only a 10 percent down payment and a below-market, fixed 20-year rate. UpCycle occupies about 55 percent of the building, allowing Walker to rent out the remaining space and gain additional monthly cash flow.

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Napa Hoteliers Amplify Business Growth with Multiple SBA 504 Loans

(English)

TMC recently helped hoteliers Vikas Patel, Chotubhai Patel and Tejal Patel, secure $5.4M in total project financing.  The funds were used to purchase two hotel properties in Napa.  By utilizing multiple SBA 504 loans, the Patel’s were able to obtain 80% hotel financing at a below market rate, fixed for 25 years.  

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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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