When Money is Tight, UTAZ Eases the Burden
FOR IMMEDIATE RELEASE
Gilbert, AZ (February 18, 2009)— UTAZ™ Development announced today the Seller Carryback Program, a plan to help medical practitioners and small business owners reduce the amount required for the down payment in order to purchase office space. “The Seller Carryback is a plan whereby UTAZ™ will finance up to an additional five percent of the total project cost of new office space,” Craig Willett, UTAZ™ President and CEO revealed, “effectively reducing the down payment by half for an SBA Loan.”
Current SBA loan guidelines allow up to ninety percent financing for medical practices and small businesses. Couple that with the five percent carryback offered by UTAZ™, and the loan to value ratio totals ninety-five percent—a very favorable position for doctors and business owners with limited liquidity or a desire to leverage others’ money. This allows for business owners in these uncertain times to reduce the amount of capital they need to invest allowing them to keep more of their capital to weather the current economic times.
With yesterday’s approval of the stimulus package, all government SBA loan fees are now temporarily waived, making it more desirable for SBA lenders to provide financing. “The financing is available, rates are low, prices are great,” affirms Willett. “With only five percent down, there has been no better time to buy while holding onto more of your savings or capital.”
The Seller Carryback Program continues until April 30th, 2009 and is available at 10 UTAZ Professional Village™ locations, including Gilbert, Chandler, Queen Creek (Pinal County), Sun Lakes, and Casa Grande. For more information call Kyle LeSueur at (480) 304-7477.
UTAZ™ Development Corporation is the creator of the “Professional Village” concept, uniquely designed to increase revenue to small businesses and medical practices that purchase offices in a Professional Village. Since 1997, UTAZ™ has developed more than 30 unique commercial office properties in the Valley. The Professional Village design elements combine visibility, prestige, exceptional locations, ample front door parking, and convenience to offer bottom-line success to small business owners, professionals, and medical practitioners.
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