Low-rate financing translates into better cash flow, giving a small business owner the flexibility to hire new employees or invest in new inventory or equipment.
The SBA-504 loan, which helps small business owners buy their own building, also features a fixed interest rate, resulting in a reliable, consistent monthly cost amortized over 10 or 20 years.
“It’s worth the time and effort for the great rates.” Neil Castro, SBA-504 loan recipient and owner of Casswood Insurance Agency in Palm Springs.
Mexican native Maria Harrington has dedicated her life to sharing her Latino heritage, so much so that she started her own school to teach children and adults Spanish.
Harrington opened Casa de Espanol in downtown Sacramento in 2011 and with steady growth soon outgrew her original space. She found a new 4,000-square-foot location, which would double the school’s space, but needed cash to renovate the facility. She turned to CDC Small Business Finance which helped her secure a $64,000 SBA Community Advantage loan. The expanded space will allow the school to continue to grow.
Casa de Espanol succeeds by merging its language curriculum with authentic Latino activities and scenarios to engage each student. Not only do students learn Spanish, they gain insight of the Latino culture.
Prior to opening Casa de Espanol, Harrington created Help Chiapas, an organization that provides educational resources to Ignacio Allende, a rural village in Chiapas, Mexico. Her passion for helping others continues to express itself through her teaching.
To learn more, click on Community Advantage Loan.
Small business owner Kirk Hans knew that to ensure financial success, he would have to take his company to the next level. A marketing campaign was the perfect strategy, but he needed funding to make it happen. A $20,000 SBA microloan became his solution.
Hans owns and operates ConnectCard, a company that provides dentists, doctors and other professionals a marketing tool that helps them strengthen relationships with current patients. A U.S. Air Force veteran, Hans started his company in 2002, building on a 30-year career in advertising and marketing.
Needing to enhance the quality of ConnectCard’s digital public presence, Hans secured a $20,000 SBA microloan with the help of CDC Small Business Finance to implement a marketing campaign to attract prospective clients. And a bonus: because Hans is a veteran, he saved $3,000 in closing costs via CDC’s VetLoan Advantage Program which eliminates some loan fees for vets.
An SBA Microloan allows a business owner to use up to $50,000 to assist with company expansion or start-up costs.