|Office Tips for Small Businesses|
|News Releases - Business & Economy|
|Written by Ginny Grimsley|
|Monday, 29 October 2012 13:24|
Consider Buying Your Office Space, Expert Advises Small Businesses
The ‘5 Cs’ Lenders Look for When Considering Applicants
It’s not a question of if, but when most business owners should think about owning commercial property, says financial expert and small-business advocate, Chris Hurn.
Owning your workplace is a path toward long-term wealth – one that doesn’t rely on constantly bringing in new income, says Hurn, author of “The Entrepreneur’s Secret to Creating Wealth: How the Smartest Business Owners Build Their Fortunes,” (www.
“Once they’ve established their business, usually after about three to six years of operation, they should look into property ownership – owning their store, office, or other workspace,” says Hurn, who has been featured in the Wall Street Journal, the New York Times, Bloomberg Businessweek and other financial publications and TV news shows.
“The smartest way to do that is through the SBA 504 – a little-known loan program administered by the Small Business Administration. It offers long-term financing at below-market fixed rates, which businesses generally can’t get through banks.”
Whether or not business owners qualify for the SBA 504, they will benefit by knowing the “five Cs” lenders look at when considering loans, Hurn says.
About Chris Hurn
Chris Hurn is CEO and co-founder of Mercantile Capital Corp. based in Orlando, Fla. MCC has earned numerous accolades and has been featured in the Wall Street Journal, the New York Times, Bloomberg Businessweek magazine, Forbes and SmartMoney, among others. Hurn has been a frequent guest on Fox Business News and PBS. He graduated from Loyola University Chicago with two magna cum laude bachelor’s degrees and earned his master’s degree from the University of Pennsylvania’s Fels Institute (formerly at the Wharton School of Business). He is also the CEO, chairman and co-founder of an upscale men’s barbershop franchise called Kennedy’s All-American Barber Club.
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