SBA 504 Loan Helps Money Pages Reach Regional Consumers
Nowadays, the direct-to-consumer media advertising industry is a crowded one. So, how does a local company compete head to head with the likes of Groupon and Living Social? Well, ask Alan Worley, President of Money Pages since its inception in 2002.
Today, more than 700,000 Money Pages magazines filled with retail, restaurant and business services coupons and specials are delivered free every month to mailboxes spanning from Southeast Georgia to Northeast Florida. Along with a strong online presence and even a mobile phone app, Money Pages reaches a vast audience of consumers at exactly the right time.
Over the years, Money Pages, based in Jacksonville, has moved or built-out eight times. It last relocated in 2008 into 7,000 square feet of leased space and has since out grown it. The company’s next expansion is the purchase of an existing 14,250-square-foot office building with extensive renovations located on 2 acres of land.
When it came time to seek financing for the deal, Worley wanted an SBA 504 Loan to be part of the $2.6 million transaction. From the beginning of the project, he realized the advantages of the program would greatly help his company conserve cash for ongoing operational expenses.
“This is the sweet spot for 504 loans,” said Kristen Tackett, Florida First Capital Vice President and Business Development Officer for Northeast Florida. “The 504 Loan Program is designed specifically to help businesses strengthen liquidity by offering down payments as low as 10% and longer amortization terms.”
3D Digital, a wholly owned subsidiary of Money Pages, will also share the space in the new location with a fully functioning multimedia studio. The production studio allows staff to do work in-house rather than rent space. For example, staff will be able to produce social media content, promotions, and brand, testimonial and corporate videos in one location.
In addition to video production, 3D Digital provides website design, social media, digital marketing and other services and operates separately from Money Pages.
Check them out online at www.moneypages.com and www.3ddigital.com.
For more information about SBA 504 loans in Florida, South Alabama or South Georgia, contact a Florida First Capital Loan Officer or email us at firstname.lastname@example.org. Phone: 850.681.3601 or toll-free at 888.320.5504.