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Read Our Blog

May 19, 2011

White Mountain Entrepreneurs

Filed under: Real Estate — rcomadmin @ 3:41 pm

White Mountain Entrepreneurs

By James M. Maloney

Selling and Leasing commercial real estate in the White Mountains has made me aware that our community is full of Entrepreneurs.  These small business owners are the backbone of our community.  Drive up and down Deuce of Clubs, through Springville and Snowflake, and up White Mountain Boulevard and there is evidence of this everywhere.  These businesses were created and grown by local people with good ideas, the ability to work hard, and an appetite for risk. 

 

Despite the recession and several local businesses closing their doors, there have been signs of this Entrepreneur spirit recently.  In the last year alone, commercial leasing rates have dropped, and owners of empty space have made concessions to attract new businesses.  Entrepreneurs that have been waiting on the sidelines are taking advantage of this new opportunity and signing leases where they can negotiate on things like tenant improvements, free rent to get started, and most importantly, locking in favorable lease terms for years to come. 

 

If you are out there with a good idea and looking to finally start your own businesses, now is a great time to act.  There is plenty of good space available across the mountain and landlords that are willing to work with you. Plus there is a tremendous amount of support available from our local communities organizations such as Northland Pioneer College, Mainstreet, and all our Chambers of Commerce. 

 

If you are an existing business and looking to expand, now is also a great time.  With interest rates at historical lows, banks are finally looking to loan.  I spoke recently to John Lewis, VP of Commercial Banking at National Bank about their criteria.  If you are an existing business that has a 2 year positive track record and good credit, you might qualify for SBA financing.  If you are looking to purchase real estate that your business will occupy, you could secure financing with as low as 10% down and lock in a rate close to 6%.  You could also qualify for a line of credit to help expand operations or hire more staff.zorb ball australia

 

Whether you are a new or existing business, now is a great time to be an Entrepreneur in the White Mountains.  I’m looking forward to seeing these FOR LEASE signs replaced with new and familiar names.  If you need any further information about securing SBA financing, writing business plans, or rates and availability of commercial space, please feel free to email or call me anytime. (928)367-5263 / james@genesispinetop.com

 

Fro more information about investing in the White Mountains, please visit my website at www.GenesisPinetop.com where I periodically write a blog about Real Estate in the White Mountains. 

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