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U.S. Small Business Administrator Maria Contreras-Sweet joined National Association of Realtors® Chief Economist Lawrence Yun at an event highlighting small business issues and commercial real estate.
“Commercial real estate plays a big role in supporting the national economy, contributing to job growth and the revitalization of communities,” said Yun. “For that work to continue, access to credit is critical. The SBA is important to facilitating liquidity in the marketplace, connecting small businesses with lenders and offering assistance when the general credit market freezes or disaster strikes.”
Yun said these issues are important to Realtors®, who not only have a vested interest in the success of small business but are often small business owners themselves. “We appreciate the SBA’s ongoing partnership and look forward to future collaboration,” he said.
SBA loan programs are an option for commercial real estate interests when other funding is unavailable. According to NAR research, SBA loans provided one in 10 Realtors® with commercial real estate funding in 2014. Twelve percent of Realtors® utilized the SBA for resources other than loans.