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Signs of renewed confidence: Small companies pursue loans
By Caitlin Coakley Last fall, Gordon and Rebecca Clark took a deep breath and took on risk. Part-owners of the Davidson Village Inn on Depot Street in downtown Davidson, the Clarks had discussed, but never seriously considered, buying out their partners. Then last year’s prolonged combination of dirt-cheap real estate and low interest rates built their confidence. “There was a concern that we might not really benefit from buying out our partners if we were just trading equity for debt,” Gordon Clark said. “But I think that because of the timing of this and where the market is right now, we picked up the inn at a pretty good price. Based on the numbers we were looking at, we felt like we had a pretty good chance for success.”