News Summary
Connected Communications, a public relations firm led by Sarah Thornton, has secured a new 2,000-square-foot office in Las Vegas, reflecting substantial growth driven by a Small Business Administration loan. The firm transitioned from renting a small space to owning a modern office, which has already led to nearly doubling their staff. The move supports their expansion across several states and emphasizes the benefits of the SBA 504 loan program for small businesses.
Las Vegas – Connected Communications, a public relations firm founded by Sarah Thornton, is poised for significant growth after acquiring a new office space in Las Vegas with funding from the Small Business Administration’s (SBA) 504 Loan Program. The newly purchased 2,000-square-foot office will replace a much smaller leasing arrangement that Thornton had previously, marking a pivotal moment in the agency’s development.
In 2022, Thornton made the decision to purchase the office for $4,500 a month, a substantial change compared to the $2,500 she was paying for 220 square feet across two small executive suites. The transition from renting to owning has not only provided much-needed space for her expanding firm but also proved financially advantageous when compared to the local rental market. Similar office spaces in the Las Vegas area would typically cost around $7,500 per month.
Thornton reflects that since moving into the new property, the firm has nearly doubled in size. Currently, Connected Communications employs six full-time staff members and several student interns, serving a diverse client base across multiple states including Nevada, California, Oklahoma, Utah, Arizona, and Florida. The upgraded office features modern amenities such as a video room, a fully stocked kitchen, and collaborative workspaces designed to enhance creativity and productivity amongst employees.
The SBA 504 loan program is designed specifically to help small business owners acquire, renovate, or refinance commercial real estate at below-market, fixed interest rates. Partnering with a Certified Development Company (CDC) called TMC Financing, Thornton navigated the loan process, with support from Senior Vice President of Business Development at TMC Financing, Chris Hunter.
The SBA 504 program is beneficial for many businesses as it allows access to financing of up to $5 million, with the potential for higher amounts based on certain qualifications. Thornton emphasizes that this strategic financial move is not just about acquiring space; it’s also an essential step in supporting future business growth and expansion efforts. She encourages other entrepreneurs to consider the SBA 504 program as a viable option for their financing needs.
Founded in 2007 as a one-person freelance PR operation, Connected Communications has evolved into a regional leader in the public relations field. The firm’s growth trajectory has been significantly influenced by strategic investments such as the recent office acquisition. The new location provides a tailored environment that enables the team to reach their full creative potential, which was previously constrained by their limited office space.
Thornton’s experience highlights a broader success story for small businesses navigating through challenges with proper support and strategic planning. As Connected Communications continues to expand its reach and capabilities, it stands as a testament to the potential outcomes that can arise from sound financial decisions and resources available to entrepreneurs.
The firm’s move to ownership rather than continuing to lease illustrates a common challenge many small business owners face—the decision to invest in property versus continuing to pay escalating rental costs. Thornton’s situation underscores the importance of evaluating financial strategies that support long-term business viability and growth.
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Additional Resources
- Nevada Business: Two Years Later – SBA 504 Loan Program
- CU Insight: CCCU Receives SBA 504 Lender Award
- News 3 LV: Nevada State Bank Top SBA Lender
- NNBW: NSB Honored with Two Top SBA Awards
- Wikipedia: Small Business Administration
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