Business
Ideal Group Subsidiary Oxygen Commercial to Offer One-Stop Loan Opportunities Servicing the Massive, Boomer-Fueled Surge in Commercial Lending
Ideal Group Subsidiary Oxygen Commercial to Offer One-Stop Loan Opportunities Servicing the Massive, Boomer-Fueled Surge in Commercial Lending.
About this update from Ideal Group Of Companies Inc.
[{"type":"text","content":"Anderson, South Carolina--(Newsfile Corp. - March 5, 2024) - Ideal Group of Companies, Inc. (OTC Pink: IDGR) (\"Ideal Group\" or the \"Company\") subsidiary Oxygen Commercial (Oxygen) has launched with a new business offering designed to provide \"one-stop\" loan approval for small-to-medium businesses and owners who want to take advantage of the Small Business Administration (SBA) lending options for commercial loans up to $5 million.\"We see a huge opportunity for small-to-medium businesses who want to start, scale, or transition business with capital available through the SBA 7a program. The challenge for many of the folks who would qualify for this option is knowing how to gain access to the capital. We have geared Oxygen Commercial toward providing a kind of \"one-stop shop\" for loans that range all the way up to $5 million,\" says Robert Egeland, who heads the commercial and residential divisions of Oxygen.The commercial lending market is experiencing a surge in activity, which is expected to ramp up rapidly as the baby boomer generation begins a major transition. According to a survey by the Exit Planning Institute, over 70% of business owners aged 50 or older planned to exit their businesses within the next ten years. This trend is further reinforced by the SBA estimate that indicates around 10 million baby boomer-owned businesses will change hands between 2019 and 2029, or roughly 1 million business sales per year from this segment alone. This shift is already well underway.\"Many baby boomers are motivated to sell their businesses to secure their retirement finances and unlock the value they have built in their enterprises over the years. Others are looking for succession options. These groups are eager to transition, requiring capital from new owners and entrepreneurs who want to inherit the benefits of successful businesses, real estate holdings, and assets built over a lifetime. We're confident we can provide straight-forward access to hundreds of millions of dollars suited to this purpose,\" Egeland says.To address the need, Oxygen Commercial has launched a dedicated portal at Oxygencommercial.com for applicants who want to qualify for commercial capital under the SBA programs. Those who apply can expect to receive hands-on service from Oxygen Commercial first to identify their needs and then match them with the r...