Bay Area Development Company: Keep Your Customer in Mind
We’ve asked some of our #SFSBW2019 sponsors to share their insights, and how they help small business flourish in San Francisco. Today we hear from Rich Grant, SVP – Market Manager of Bay Area Development Company.
We provide SBA 504 loans to assist companies to finance commercial real estate and long-term capital equipment at below-market fixed rates with low down payments and long terms.
Bay Area Development Company supports the small business community with our financing and our expertise. We engage the small business community through other financial intermediaries including commercial real estate brokers, banking professionals and other centers of influence.
We have created sample loan structures for our potential borrowers to see how their monthly loan payments compare to rent payments. We have also created a 504 Loan Calculator on our website to help our clients see how the SBA 504 program can work for them.
Two of the biggest trends affecting small businesses are the lack of available commercial property for sale and rising short-term interest rates. This lack of inventory drives prices up and requires small business borrowers to be aggressive when the right property becomes available. The long-term fixed rates we make available through the SBA 504 program help clients control and predict their occupancy costs over the long term.
We recently assisted a transportation company in purchasing a property for their business use. The property is ideally suited to their business use as there is ample land for parking and storage of their vehicles and the San Francisco location keeps them close to their primary customers in a location with good freeway access to other Bay Area locales.
Do everything with your customer in mind. Your objective is not to satisfy your customer but to delight them. Your existing, delighted customers are your best source of new, delighted customers.