{"id":8166,"date":"2015-09-27T18:00:28","date_gmt":"2015-09-28T00:00:28","guid":{"rendered":"http:\/\/financenewmexico.org\/?p=8166"},"modified":"2016-04-18T09:59:46","modified_gmt":"2016-04-18T15:59:46","slug":"evolving-business-returns-to-accion-for-commercial-real-estate-loan","status":"publish","type":"post","link":"https:\/\/financenewmexico.org\/sandbox\/articles\/obtaining-a-loan\/evolving-business-returns-to-accion-for-commercial-real-estate-loan\/","title":{"rendered":"Evolving Business Returns to Accion for Commercial Real-Estate Loan"},"content":{"rendered":"
\"By<\/a>

By Justin Hyde, Accion Market Manager<\/p><\/div>\n

Cathy Schueler approached Accion, a nonprofit lender, in 1996 to secure her first business loan for her nascent business \u2014 a microloan of around $3,000 \u2014 to buy equipment and supplies for her private psychotherapy practice in Rio Rancho.\u00a0 At the time, Schueler was a sole proprietor who wanted to build her new business.<\/p>\n

By the time Schueler returned in 2015, she was planning to purchase a home for her thriving S corporation, Bosque Mental Health, in central Albuquerque.<\/p>\n

\u201cCathy\u2019s a great example of how a client can grow with us,\u201d said Metta Smith, vice president of lending and client relations.\u00a0\u201cWe\u2019re able to work with a wide range of entrepreneurs \u2014 from those needing startup capital to launch, to the well-established business owner hoping to purchase a home for his or her business.\u201d<\/p>\n

Different Type of Loan<\/strong><\/p>\n

Accion offers a range of credit and services to local entrepreneurs:\u00a0 microloans from $1,000 to small business loans up to $1 million for purposes such as startup capital, equipment purchase, franchise expansion, business acquisition, or as in Schueler\u2019s case, the purchase of owner-occupied commercial real estate (OOCRE).\u00a0 Scheuler, just shy of qualifying for a SBA loan, turned to Accion for capital.<\/p>\n

Unlike many home mortgages, loans to purchase commercial real estate to house a business are not insured by the federal government.\u00a0 Thus, fewer options are available and rates and down payment requirements are typically higher than in the mortgage market, with prepayment penalties frequently in effect.<\/p>\n

Seeing the need to increase access for entrepreneurs to finance the purchase of owner-occupied real estate, Accion introduced a specialty product in 2012 that features fixed interest rates and no pre-payment penalty.<\/p>\n

Owning a business\u2019 location can boost the confidence \u2014 and cash flow \u2014 for an entrepreneur to grow her business.\u00a0 That\u2019s just what Schueler plans to do with Bosque Mental Health in its new digs \u2014 a 2,200-square-foot building in a centrally located medical complex. \u201cIt\u2019s larger, more sophisticated and more professional,\u201d she said.<\/p>\n

Once a sole proprietor, Schueler is now executive director of a business that employs 14 people and provides a vital, and often life-changing, service to individuals and families across Albuquerque.\u00a0 In addition to running Bosque Mental Health, she continues to see a limited number of clients to keep her therapist skills current.<\/p>\n

The Accion loan \u201cgave me the leg-up I needed,\u201d she said. \u201cIt will help my business grow in ways it (otherwise) couldn\u2019t have.\u201d Her five-year plan is for Bosque Mental Health to be one of the premier organizations people turn to for outpatient behavioral health care.<\/p>\n

A Family Feeling<\/strong><\/p>\n

One thing that didn\u2019t change in the 19 years between her two Accion loans was the lender\u2019s enthusiastic support, Schueler said. \u201cThey\u2019re kind of like a family; they\u2019re helpful and friendly and want to work with you,\u201d she said. \u201cJustin walked me through everything and asked questions I wasn\u2019t even anticipating.\u201d<\/p>\n

Accion\u2019s mission remains the same after 20 years of service: increase access to business credit, make loans and provide training to enable entrepreneurs to realize their dreams and be catalysts for positive economic and social change. For more information, visit www.accionnm.org<\/a>.<\/p>\n

Download 417_Evolving Business Returns to Accion for Commercial Real-Estate Loan<\/a>\u00a0PDF<\/p>\n","protected":false},"excerpt":{"rendered":"

Cathy Schueler approached Accion, a nonprofit lender, in 1996 to secure her first business loan for her nascent business \u2014 a microloan of around $3,000 \u2014 to buy equipment and supplies for her private psychotherapy practice in Rio Rancho.\u00a0 At … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/posts\/8166"}],"collection":[{"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/comments?post=8166"}],"version-history":[{"count":7,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/posts\/8166\/revisions"}],"predecessor-version":[{"id":8518,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/posts\/8166\/revisions\/8518"}],"wp:attachment":[{"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/media?parent=8166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/categories?post=8166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financenewmexico.org\/sandbox\/wp-json\/wp\/v2\/tags?post=8166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}