The Real Estate Advantage (REAL 504) loan program is a key platform in the federal government’s business development role. Administered through the Small Business Administration (SBA), the REAL (504) loan is for small business to acquire real estate and equipment. While it’s not the only loan program the SBA offers — the full range of loan and grant programs can be seen here — the REAL (504) loan is a welcome topic at the real estate deal table when it’s time for a business to expand operations and acquire a larger footprint.
If the old maxim neither a borrower nor a lender be was taken seriously, there’d probably be no commercial real estate market. The capital that enables our industry’s transactions is overwhelmingly a borrowed commodity. To borrow usually means to pay back, and the many rules and rituals surrounding the promise of payback have filled books, consumed careers and rewarded careful study with an understanding of what makes the property market really tick.