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Business Expansion Financing for a Plumbing Company (SBA Loans) Q&A
Question: I have a plumbing supply company. We have been in business for 8 years and are growing 20-30% per year. We currently lease our warehouse. We would like to build a warehouse and get a much bigger yard. We plan on growing our business with more vans for delivery. We would probably be in the construction project around $4 million, not including the equipment, vans, and FF&E. That would probably be another $300k. What are your thoughts for a project like this?
Thanks,
Larry
Timestamps
[00:58] If you are looking for the highest leverage, go with SBA, specifically the SBA 7a loan
[01:15] Considering a business expansion for real estate
[01:40] Financing the build-out
[02:07] Finance your operational costs and interest carry to avoid making payments during construction
[02:29] Reasons why an SBA 7a loan is the right solution for this project