While banks aren’t going to be handing money over to anyone who walks in off the street with a business plan, they are going to be making it easier for smaller businesses to get access to funds that will help them grow.  Business growth equals job growth.  The more jobs created the greater the demand for housing, land, etc…  It will be interesting to see whether or not existing business will take advantage of this opportunity and if it will pay off in the form of job growth in Central Texas.

Last week, the administration announced they were eliminating all fees on the SBA’s most popular loan, the 7a loans, as well as CDC/504 loans. They are guaranteeing larger portions of loans (up to 90%) and offering 0% interest loans for small businesses that are falling behind on current loans. This loosening of restrictions will allow current businesses to grow and new businesses to start up.

With Austin’s relatively strong economy, we may see quite a few new businesses starting up in the near future. New businesses are going to need new space.  We are going to see new and creative uses of existing urban areas and (hopefully) smart growth around the urban core.