Wolgast Blog - Construction Trends, Tips and Information

Navigating Commercial Building Loan Landscape for Small Business

One of the essential components of business growth and sustainability is securing necessary financial resources. For many, this means turning to commercial loans. We checked in with Steve Canole, Senior Vice President of 1^st State Bank, to find out the current commercial financing climate and if there are any changes, insight, or guidance our business owner clients should know to secure financing to fuel their growth.

Approximately 10 years or more is needed for healthcare practice owners to prepare to retire.¹ As doctors become owners of their practice, they may not yet be thinking about retirement, however succession planning should start very early as part of their business plan and then adjusted as time goes on and retirement becomes more than a thought.

If you’re looking to purchase a property or building for your business, most financial institutions require you to have a property survey to qualify for their loans. Some owners who use a cash transaction don’t always get a property survey, but if they did, they could prevent many issues by knowing all the details and history about their property.

Ray is the owner of a large corporation with his operation spanning over two locations.  When he outgrew his initial office, he got a great deal on a warehouse that was easily adaptable to expand his business.  Now, after years of hard work and smart decisions, he’s outgrowing both locations and has decided that it will be more efficient for his operation to all be under one roof.  But speculating on the costs involved, Ray is wondering if this is the best decision for his company right now?  What Ray may not be considering is economies of scale in construction. With his building being bigger, the duration of the project longer, and the fixed fees being the same, he can benefit from the efficiencies that his Design-Builder will pass through, which will lower the square footage cost.

Precast Concrete Wall Panel Options for Construction Efficiency

Construction efficiency is a critical factor that can significantly impact timelines and overall project success. The combination of precast concrete wall panels and structural steel and insulation offers a powerful solution to achieve efficiency when needed in construction projects. Wall panel system construction is gaining popularity due to its labor and time savings to erect a building envelope. Precast concrete walls with conventional steel roof framing are one option to use on a large commercial building. Made of a variety of concrete materials, walls are poured in an indoor, controlled environment to the specs of your building’s needs, as specified by your Architect or Engineer (A/E). Each 10,000+ lb. (approximate) panel and other precast parts are then transported on a large truck bed to your building’s site to be put in place by a crane, assembled by a crew that welds/connects them to structural steel and then caulks the gaps to create an energy efficient, structurally sound, quickly installed building envelope ready for your interior buildout.

In the modern world, Economic Development Agencies (EDAs) are playing a critical role in helping cities, states, and even countries reach their economic potential. Economic growth is what makes communities thrive by expanding a tax base and offering a quality of life for residents through employment, commerce, infrastructure, and entertainment. Business owners can benefit from EDA services and incentives to expand or start their business. The EDAs work with private funds, local foundations, schools, and government to name a few to match incentives that will keep or bring economic growth to their region.

School Districts require a lot of coordination to make their multi-sports programs work seamlessly. For a while now, adding an auxiliary gymnasium onto the school building or a wrestling practice room that can double as a cheerleading practice space, has been the answer to make room for all teams to have needed practice space. Now, School Administrators are discovering that Athletic Fieldhouses, if they have space within their campus, are a better choice because they offer more flexibility for students and their community.