We’ve financed a lot of different businesses with the SBA 504 Loan. In the past, we’ve financed a lot of multipurpose properties. These are things like free-standing office buildings, industrial warehouses and commercial condos. We’ll even do freestanding franchise restaurants and daycares. We truly do a variety of different things.
Our SBA 504 loans can really help any small business. We do a fair amount of physicians, buying their medical office buildings. We also finance manufacturers, buying industrial warehouses or manufacturing plants. Similarly, we finance distributors who need to keep inventory in the warehouse. Because of the terms of the 504 loan, a lot of professional service firms benefit from them. For instance, accountants, lawyers, architects and engineers–any business who needs to have a place to visit, we can finance.
Hotels have been a major client for us as well over the years. The list goes on and on, so it’s pretty substantial. That’s what’s so fun about what we do on a day-to-day basis. We get exposure to a lot of different kinds of companies by providing them with SBA 504 loans. We see a lot of different business models, plans, ways to run a company, corporate cultures. It’s pretty exciting to work with business owners of all different varieties.