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 right fit for their business model.
"We want to be advocates for the small businesses that deserve this opportunity," Egeland elaborated. "They are often unappreciated or undervalued. Oxygen Commercial is a new offering in the commercial lending space. We have extensive experience helping self-employed entrepreneurs in the residential mortgage space, so this is a great natural extension of our services. We're ready to capitalize on the coming onslaught of business financing."
The coming tidal wave of business sales is also expected to have far-reaching impacts in areas of job creation and innovation, economic growth, market maturity, and consolidation, as well as effects on retirement savings and financial security. Besides injecting new capital into the economy and fueling growth, this trend will also inject a wealth of fresh ideas, technologies, and management approaches that could severely boost the overall productivity and competitiveness of the enterprises.
About Ideal Group of Companies Inc.
Ideal Group of Companies Inc. (idealgroupcorp.com) is a diversified real estate and financing company. Its real estate development division under the brand Eclipse Real Estate Development is engaged in acquiring, developing, and operating multifamily, mixed-use, commercial, and residential real estate, vacation rentals and RV resorts, and housing development projects. Its mortgage brokerage division under Oxygen Mortgage Inc. provides consumer mortgage services and, through Oxygen Commercial, provides financing for commercial projects. Ideal Group Inc.'s wholly owned subsidiary, Portfolio Partners, Inc., is the parent company of Travel Zen, Inc., which acquires deeds to fractional timeshares in a portfolio of premium resorts at some of the most popular resorts in the USA. For more information, visit idealgroupcorp.com.
Press Contacts:
Ideal Group of Companies Inc.
Tel. +1-833-433-2599 Ext. 2
Charles Cardona, CEO
ccardona@idealgroupcorp.com
DISCLAIMER and FORWARD-LOOKING STATEMENTS
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the Company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; and the volatility of the Company's operating results and financial condition. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct. Investors are cautioned that actual results may differ materially from the anticipated results.
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