SBA 504 Loans Help Marinas Stay Afloat
If you are located on a coast, then there is a demand for sheltered protection for boats. Marinas continue to see significant demand and generate a lot of profit - $5 billion in 2018 alone. Couple that with the 2% growth the industry has experienced since 2013 and it becomes clear that opening a marina can be a smart decision.
However, would-be business owners find that coming up with the capital can be challenging. The good news here is that SBA 504 loans can buoy your business. These loans can offer up to $5 million in capital for use in specific ways.
For instance, you can use the money from an SBA 504 loan to purchase real estate, and then improve it, including deepening existing anchorage, creating channels, and more. You can use it to build your facility, and even for equipment, such as boat storage and dry dock systems, which can cost hundreds of thousands of dollars.
We’re here to help you get the commercial financing you need. Simply fill out the form below for a risk-free consultation and a free SBA loan quote!