NAR is urging the Senate to OK legislation that would create a $30 billion small business loan fund. NAR also wants the bill to allow credit unions to increase loans to commercial real estate. Similar legislation has passed the house but Senate prospects are unclear. For more information, contact Vijay Yadlapati at 202-383-1090 or vyadlapati@realtors.org.
Archives for July 2010
504 Loans – The Good, Bad and Ugly
With the weak economy deterring many small businesses from expanding, demand for SBA loans plummeted: Last year, the SBA approved $3.8 billion in 504 loans, down 28% from 2008 and 40% from 2007. Now, hoping to spur expansion among small companies, the SBA is offering inducements like lower rates and no-fee deals. Demand is picking up again for these 10%-down, fixed rate loans, but if you’re thinking of pursuing a 504 loan, though, there are some strategies and caveats to keep in mind. Read more…
Brokers Relate Retail Struggles
Midwest REALTOR James Schutter isn’t alone in working much harder for the commercial business he closes on these days. The consensus reamains that the market is likely to take a couple of years to recover and the retail picture across the country is similar to these stories about the midwest. Read more…
