504 Loan Helps Entrepreneur Beautify
There is a great sense of satisfaction for every entrepreneur when their business reaches the next level of evolution/expansion and they are able to move forward confidently.
That is where Anan Bashiti found himself after the successful opening of Beautylicious – a one stop superstore for all things beauty product related in Jacksonville – in 2016.
After signing a lease for an 8,335 square-foot retail building, Bashiti set out to make major renovations to accommodate his dream beauty superstore. When he was offered the opportunity to purchase the real estate in 2017, it was the chance he was looking for to take his growing business to the next level.
Bashiti realized that he would need a partner that would help elevate his dream and also help him navigate the complicated financial landscape. That’s when he chose to work with Florida First Capital and the SBA 504 Loan Program to finance the $920,000 rent swap transaction.
“This is a perfect example of how useful the 504 Loan Program is to a growing and expanding small business owner,” said Kristen Tackett, Florida First Capital Vice President and Business Development Officer for Northeast Florida. “By facilitating the purchase of a currently leased property, an entrepreneur can turn rent payments into a long-term property investment, thereby reducing monthly expenses and preserving precious working capital.”
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 email@example.com. Phone: 850.681.3601 or toll-free at 888.320.5504.