Could a Business Loan Help You Reach Your Economic Goals?

The letter from the Los Angeles County Probate Office was the inspiration. When you first received the phone call and then the packet of legal documents you began to understand that you really might be the heir to some long lost uncle who had been a merchant marine in the Pacific Ocean. The initial conversation with your sister, however, seemed like some kind of scam. Some how the Los Angeles government office found your younger sister’s name first. Your sister, however, immediately contacted you. Not until you received your own phone call and legal packet in the mail, though, did you think the inheritance was a valid possibility.

The following months involved paper work and phone calls, legal appointments and tax attorneys. When the money finally arrived, it was a sizable amount. Enough, in fact, to help you launch the business that you had always dreamed of. The inheritance money was not enough to completely help you start your business plan. It was, however, enough to get you started. Enough to inspire you to pursue your dream. By the end of the first year you had taken out two small business loans, but they were really well researched commercial financing options and the interest in your new business was taking off.

Small Business Loans Are Really the Things That Will Make America Great Again As many American citizens try to take control of their lives and their finances, some are turning to business development as their best option. The prospect of owning one’s own business is an economic opportunity that many Americans embrace. And while a few individuals may have an inheritance to help them get started as a business owner, many more turn to small business loans as their initial resource. Consider some of the many ways that Americans are looking to start working for themselves instead of someone else:

Gas Station Financing

It may come as no surprise that many local and neighborhood gas stations are closing. What once used to be full service gas stations on every corner in a large city, are now empty lots. The number of old and abandoned gas stations show the toll of an industry that has suffered in the last few decades.

Some savvy business people, however, realize a small gas station that also has a second purpose can serve a real community need. In fact, gas stations that also serve the purpose of being coffee shops or specialty food stores are making a comeback. On a north and south highway in Missouri, for instance, an old gas full service station has been transformed into a beef jerky outlet that offers a variety of tasty products. Combined with a self service gas station and some well maintained restrooms, this stop has become a popular favorite for many travelers, as well as a successful economic opportunity for the owners.

Hotel Financing

Somewhat similar to the gas station industry, the hotel and motel industry has seen a series of closures and mergers in the last few decades. For some of the smallest towns in America, these closings have meant that some communities no longer have a place for guests and visitors to stay. Without overnight accommodations, these towns suffer the fate of many areas that lose access to important revenues.

The decision to reopen a hotel as a bed and breakfast or other unique setting is an opportunity that works well for many entrepreneurs. It is difficult to beat the combination of great food, comfortable resting places, and homegrown hospitality. Many small town business owners make use of the financing provided by small business loans to help them refinish a home into a bed and breakfast or retreat that is offered to both businesses for meetings and families hosting reunions.

Daycare Center Financing

An October 2016 study reported by National Public Radio indicated that while the governmental education industries report that many preschools across the country are providing less than adequate services, for the most part American parents are actually very satisfied with the daycare options they have. The study goes on to explain that much of this comfort and satisfaction comes from the personal relationships that their children have with these providers. Private daycare centers, once often financed by business loans, are at the heart of this satisfaction.