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Is Now a Good Time to Buy Your Spa?

Barbara Morrison October 2011 issue of Skin Inc. magazine

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Could now be a good time to buy real estate for your business? That is the top-of-mind question for many business owners. To small-business owners who have weathered the economic downturn and are feeling more confident about their financial stability, the commercial real estate market can be both tempting and unnerving.

Spa owners are seeing a surplus of retail space at rock-bottom prices, but keep hearing doom-and-gloom reports that the economy is not growing as fast as economists had predicted. With lots of chatter about a second recession, many skin care facility owners feel stuck, wondering if now is the right time to transition from leasing to owning their workspace.

The Small Business Administration (SBA) has streamlined its policies in recent years to make commercial real estate loans more accessible and feasible for businesses. This year, further improvements to the program have been made. The revamped SBA 504 loan program is one of the best-kept secrets in the small-business industry, and offers opportunities for spa owners under recent enhancements. 

An affordable solution?

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Benefits of SBA 504 Loans

  • Up to 90% financing is available for the purchase, renovation and construction of owner-user commercial property; businesses are typically only required to provide a 10% injection.
  • Larger loans for larger businesses: Recent SBA 504 loan updates increased the maximum loan amount and expanded company size standards for eligibility. Most privately held companies in the United States are now eligible.
  • Below-market, long-term interest rates that are fixed for 20 years.
  • Small-business owners are now able to use low-interest, government-backed SBA 504 loans to refinance existing underwater commercial mortgages.

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