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Posted: August 7, 2009
Now is a great time to buy that commercial property
In this current economic climate, how can any business or nonprofit think about investing in commercial property?
The answer is that smart business owners and nonprofit managers should think very seriously about acquiring that commercial home. Real estate prices are historically low. Bargains are rampant. Commercial interest rates are historically low. Once inflation hits, rates are going to zoom up. Combine the current low prices and the low rates with low downpayment financing and this is perhaps the best time in recent history to lock into commercial property ownership.
The SBA 504 and New Market Loan Programs provide 10% down, 20-25 year low fixed rate financing for commercial acquisitions & renovations. The low downpayment, low rates available will preserve cash for working capital, make the deal affordable while creating stability for the business and building equity for the owners or organization.
If your business or nonprofit is here for the long haul, think about investing in the ultimate asset- your own commercial home. Now is a great time to buy!
For more information on affordable financing for commercial acquisitions, see www.gnydc.org.
Roslyn Goldmacher is the president and CEO of the Long Island Development Corp. (LIDC) and the Greater New York Development Co. (GNYDC), Bethpage, N.Y.
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