Bay Area Development Company: Focus on What You Do Best
#SFSBW2017 asked some of our sponsors to share insights, best practices, and examples of how they help small business owners flourish. Today we hear from Bay Area Development Company.
Bay Area Development Company provides SBA 504 loans so companies can finance commercial real estate at below market fixed rates with low down payments and long terms. This is done by providing responsive, personal service and rock solid advice.
We work to make small businesses stronger and to provide resources to help them build communities and create new, local jobs. This is accomplished by supporting a wide range of resources, including; SBA Small Business Development Centers, San Francisco Small Business Network, and Small Business California, to name a few.
We work to help businesses understand how important financial information and data related to their business is and how financial institutions use this to analyze their financial capacity. When small business owners understand their revenues and expenses they are in a better position to explain their financial picture, which increases a lender’s ability to assist them in buying the home for their business.
The economic outlook is good so there has never been a better time in the Bay Area to start a small business and realize the dream of owning your own business. Being an entrepreneur is hard work but launching in a time when the economy continues to grow is a smart move.
LECHAT, a business located in Hercules, is a great example of a client that we assisted. They are a rapidly growing business that expanded into manufacturing products for nail salons throughout in the nation and internationally. While the owner, Mr. Luu, was attending San Francisco State, he opened his first nail care salon. Since then, his company has expanded to four locations, sells to 32 countries and has plans to expand to the rest of the world and contribute to the growth of the world economy.
Stay focused on what your business does best, always strive to improve customer service and really listen to feedback about how your business may better serve its customers. Retail, service and wholesale businesses can all use this advice to better understand their market and to improve their financial stability.