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.
Representing SBA lenders and districts across the US is NADCO, the National Association of Development Companies. Spreading awareness of the loan programs among small business owners is a continual challenge. To get a wonderful illustration of how REAL (504) loans can work, check out a recent appearance by NADCO President Beth Solomon at a roundtable discussion and reception in Pueblo, Colorado.
Joe and Donna Ruzich didn’t celebrate alone at a reception Monday marking the opening of their Synergy Physical Therapy and Wellness center, a dream of Joe’s since he graduated college 15 years ago.
The guest list included several top advocates for Small Business Administration lending programs, including Beth Solomon, president of the National Association of Development Companies, which represents SBA districts and lenders across the nation.
As part of the event, Solomon, visiting Colorado from Washington, D.C., led a roundtable discussion at Synergy, 1080 Eagleridge Blvd., Unit G. The Ruziches qualified for a smaller down payment on a purchase-and-remodeling loan as part of the Real Estate Advantage (504) Loan program.
Calling the new center a “REAL (504) success story,” Solomon urged small businesses across Southern Colorado to look into the program and other government-sponsored initiatives such as Small Business Development Centers.
“We’re here to get these loans into the community,” she said.
Read the entire Dennis Darrow article that originally ran in the Pueblo Chieftan here.
(Photo Credit: The Georgetown Dish)