Entrepreneurs may take advantage of bootstrapping strategies to start their own business, this is the norm nowadays especially because of the economic downturn. However, it cannot be expected that entrepreneurs can shoulder the finances of upgrading their businesses to sustain growth. There is still a need for businesses to borrow money for the development of their small business. It is a relief to know that the Business Expansion Funding Corporation (BEFCOR) is helping small business owners in North and South Carolina to take advantage of the low rates of the SBA 504 loan program. The SBA 504 Loan Program is known by small business owners to give low interest rates, requires a low down payment of only at least 10%, and is a fixed-rate, long-term program which caters to the purchase of commercial real estate. This is a deal worth looking into because with the help of both BEFCOR and the SBA, small businesses would be able to own commercial real estate and other fixed assets. You might ask, why own it when you can just rent it? Think about it. On the accounting side of business, renting a place or any equipment is considered a liability.
In recent news, a drop of 5% in interest rate is being offered by BEFCOR SBA 504 Loans. With this offer, entrepreneurs can take their businesses to a whole new level which would be beneficial for the economy as a whole since it would generate more jobs and ultimately help turn the country around from economic recession.
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