Bakersfield, CA - The U. S. Small Business Administration (SBA) will be meeting with small business entrepreneurs on August 12, 2009 at the Kern Inyo Mono Small Business Development Center to provide information on how the SBA and our many resource partners can help you in the growth and development of your own small business.
During the SBA visit, entrepreneurs, startup companies and even seasoned firms can confidentially discuss and review business strategies. Topics of discussion may include how to start a small business, how to apply for a SBA loan, selling to the federal government and an overview of the many SBA management and technical assistance programs that are available to assist small business entrepreneurs.
SBA realizes that business entrepreneurs are very busy and to leave their businesses for any length of time can be difficult. The Kern Inyo Mono Small Business Development Center in Bakersfield is a tremendous resource for entrepreneurs and SBA appreciates the donation of their convenient location for holding the appointment sessions.
Entrepreneurs often find that running questions, concerns and ideas past a seasoned small business counselor or an individual outside of their own business can help in offering support and guidance. Information on the Small Business Development Center (SBDC) and SCORE programs, both of which are local resources available in the Bakersfield area, will be provided during the day.
Advance appointments are necessary and can be arranged by contacting the Fresno SBA District Office at 800-359-1833, option 6, or (559) 487-5791, or by emailing the Fresno SBA office at william.hori@sba.gov. The Kern Inyo Mono Small Business Development Center is located at 2000 K Street, Suite 300, Bakersfield. Appointments will be held on August 12, 2009 from 9:00 AM to 3:00 PM.
SBA has many programs and services to offer to new and existing small business owners. For more information on SBA programs visit http://www.sba.gov/ or call (559) 487-5791.
The American Recovery and Reinvestment Act of 2009 is good news for America’s small business. The Act will provide several tools to make small businesses more competitive. For additional Recovery information including information on SBA products and services please contact the Fresno District Office at (559) 487-5791 or visit us at http://www.sba.gov/.
Monday, July 20, 2009
Central California SBDC Brings NxLeveL Entrepreneurs Course To Fresno!!
Central California SBDC Brings NxLeveL Entrepreneurs Course To Fresno!!
Would you like free cutting-edge, in-depth entrepreneurial training for you and your employees? If you have employees and pay into the California State employment tax, you qualify to take this course for free!! Why not take advantage of the tax dollars you have already paid?
NxLeveL™ for Existing Businesses also referred to as the "Entrepreneur Course" is a 13-session, 36-hour course designed for entrepreneurs who want to expand an existing business and need the skills to make it grow.It's been proven that the entrepreneur who plans is the entrepreneur who succeeds. For this reason, participants develop a comprehensive business plan during the course to act as the road map for future growth.
The topics in this course include:
The NxLeveL Business Plan: Plan and begin to develop your business mission statement, goals, and objectives.
Would you like free cutting-edge, in-depth entrepreneurial training for you and your employees? If you have employees and pay into the California State employment tax, you qualify to take this course for free!! Why not take advantage of the tax dollars you have already paid?
NxLeveL™ for Existing Businesses also referred to as the "Entrepreneur Course" is a 13-session, 36-hour course designed for entrepreneurs who want to expand an existing business and need the skills to make it grow.It's been proven that the entrepreneur who plans is the entrepreneur who succeeds. For this reason, participants develop a comprehensive business plan during the course to act as the road map for future growth.
The topics in this course include:
The NxLeveL Business Plan: Plan and begin to develop your business mission statement, goals, and objectives.
- Planning & Research: Entrepreneurial essentials; begin market/industry research through identification and usage of research resources.
- Organizational Matters: Management & legal structure; explore legal and organizational topics including: legal structures, government taxes and regulations, risk management, and employee issues.
- Marketing and "Behind the Scenes": Analysis & understanding; learn key concepts of analyzing your market, including customer profiling and competitive analysis.
- Marketing-"On Stage": Strategies, tactics & implementation; develop marketing strategies around the product, pricing, promotion, and distribution elements of your business.
- Financial Overview: Books, records & controls; examine how your books and records become the language of business.
- Managing Your Money: Financial planning, budgets & assumptions; understand how to develop and derive feedback from budgets.
- Managing Your Money: Developing and using cash flow projections; learn to prepare and use the ultimate "management tool," cash flow projections.
- Understanding and Using Your Financial Statements: Take the mystery out of the income statement, balance sheet, and other financial statements by learning how to use the numbers.
- Financing Your Business: Alternative sources of money; evaluate financing options and determine which are best for you.
- The Deal Making Process: Negotiating in the real world; developing and understanding the negotiating process and techniques.
- Your Business Future: Managing growth and plan completion; what's next? Growth expansion? What is your business future?
When: Every Tuesday & Thursday-Starting on July 28th 2009
Time: 6:00PM-9:00pm
Where: 3302 N. Blackstone #225 -(CCSBDC office)
Cost: Free!!*
To Register: Contact Joi Eubanks at 559-230-4056 or email joi@ccsbdc.org
Hurry seating is limited!!
Don't miss your opportunity to take your business to NX LeveL!!!!
*Class is free to those with Employees and a valid California Employer tax ID (CEAN)
Alliance SBDC Modesto - FREE! EMAIL MARKETING WORKSHOP
FREE! EMAIL MARKETING WORKSHOP
Tuesday, July 21st
"Email Marketing should be a key component of your overall marketing strategy"
Best Practices 10am-12pm
Getting Started 1pm-3pm
SPACE IS LIMITED REGISTER TODAY!
www.alliancesbdc.com or call 209 567 4910
The workshop will help you to:
• Reach more people with your message
• Create email campaigns that get results • Get your emails opened and read • Write compelling subject lines and copy
• Interpret email campaign results (open-rates, bounce-rates, click-thru rates, etc ...)
Alliance Free Enterprise Center
1020 10th Street, Suite 102
Modesto, California
The ALLIANCE Small Business Development Center is an affiliate of the UC Merced Small Business Development Center regional Network and is partially funded by: Stanislaus Economic Development & Workforce Alliance; University of California, Merced: and the U.S. Small Business Administration. This is a partnership program under the current Cooperative Agreement with the U.S. Small Business Administration and the University of California, Merced. Reasonable accommodations will be made, upon request, for handicapped individuals.
Tuesday, July 21st
"Email Marketing should be a key component of your overall marketing strategy"
Best Practices 10am-12pm
Getting Started 1pm-3pm
SPACE IS LIMITED REGISTER TODAY!
www.alliancesbdc.com or call 209 567 4910
The workshop will help you to:
• Reach more people with your message
• Create email campaigns that get results • Get your emails opened and read • Write compelling subject lines and copy
• Interpret email campaign results (open-rates, bounce-rates, click-thru rates, etc ...)
Alliance Free Enterprise Center
1020 10th Street, Suite 102
Modesto, California
The ALLIANCE Small Business Development Center is an affiliate of the UC Merced Small Business Development Center regional Network and is partially funded by: Stanislaus Economic Development & Workforce Alliance; University of California, Merced: and the U.S. Small Business Administration. This is a partnership program under the current Cooperative Agreement with the U.S. Small Business Administration and the University of California, Merced. Reasonable accommodations will be made, upon request, for handicapped individuals.
Thursday, July 9, 2009
SBDC in the News
Bankrate.com this week carried an article about SBA's ED programs with a focus on the SBDC national program. To access the article, click here.
Source: ASBDC Network Connection - July 9, 2009 (Vol. III, # 15)
Source: ASBDC Network Connection - July 9, 2009 (Vol. III, # 15)
"The Small Business Economy, a Report to the President"
SBA Office of Advocacy Releases 2009 Edition of "The Small Business Economy, a Report to the President"
SBA's Office of Advocacy last week released its 2009 edition of "The Small Business Economy, a Report to the President." To access a brief summary of the report, click here. To access the full 164-page report, click here.
SBA's Office of Advocacy last week released its 2009 edition of "The Small Business Economy, a Report to the President." To access a brief summary of the report, click here. To access the full 164-page report, click here.
Wednesday, July 8, 2009
Modesto - FREE Individual Sessions on SBA Guaranteed Loans
Appointments Available!
Tuesday July 14, 2009
8:00am - 4:00pm
Location: The Alliance SBDC - Modesto
FREE INDIVIDUAL SESSIONS ON SBA Guaranteed Loans
Mike Souza from the SBA will be available to answer
questions regarding:
Call For Your Appointment Today! 209.567.4910
Small Business Development Center Funded in part through a cooperative agreement with the U.S. Small Business Administration and the University of California, Merced. All opinions, conclusions, or recommendations expressed are those of the author(s) and do notnecessarily reflect the views of the SBA. All Federal and State funded programs are extended to the public on a nondiscriminatory basis. Special arrangements for individuals with disability will be made if requested in advance.
Tuesday July 14, 2009
8:00am - 4:00pm
Location: The Alliance SBDC - Modesto
FREE INDIVIDUAL SESSIONS ON SBA Guaranteed Loans
Mike Souza from the SBA will be available to answer
questions regarding:
- 7(a) loans
- 504 loans
- Patriot Express loans
- Capline (line of credit)
Plus information regarding
New Loans Programs through:
- The Stimulus Package
- The American Recovery and Reinvestment Act (ARRA)
- American Recovery Capital (ARC Loans)
- Dealers Floor Plan Financing (DFP)
Call For Your Appointment Today! 209.567.4910
Small Business Development Center Funded in part through a cooperative agreement with the U.S. Small Business Administration and the University of California, Merced. All opinions, conclusions, or recommendations expressed are those of the author(s) and do notnecessarily reflect the views of the SBA. All Federal and State funded programs are extended to the public on a nondiscriminatory basis. Special arrangements for individuals with disability will be made if requested in advance.
Suncrest Bank Steps Up to Help Small Businesses in the Central San Joaquin Valley
Release Date: July 8, 2009
Contact: Melende Ward, (559) 487-5791
Release Number: 09-11
Internet Address: http://www.sba.gov/news
Suncrest Bank Steps Up to Help Small Businesses in the Central San Joaquin Valley
Fresno – The U. S. Small Business Administration (SBA) has approved Suncrest Bank, headquartered in Visalia, California to make government backed SBA business loans. Suncrest Bank recently applied to the SBA and was approved to become a participant in the SBA's 7(a) Loan Guaranty Program.
Fresno District Director Carlos G. Mendoza said, "Cash flow is the life blood of all small businesses and a company’s ability to obtain business loans is paramount to the success in overcoming the credit crisis facing the nation. This approval comes at a time when small businesses and entrepreneurs are facing challenges in obtaining business loans. The approval of Suncrest Bank to be a lending partner with SBA programs will help the Fresno County community.”
A major concern today for small business owners is access to capital and credit. As a SBA resource lending partner, Suncrest Bank will be participating in SBA's 7(a) Loan Guaranty Program which provides several different financing options to small businesses. Loans made under the SBA 7(a) program include longer loan terms and lower interest rates than conventional loans along with broad eligibility and credit criteria to accommodate a wide range of financing needs. Small businesses may use SBA loan proceeds to expand or remodel a business, purchase machinery and equipment, working capital, finance seasonal lines of credit, construct commercial buildings and/or purchase land or buildings.
Mike Wilson, President of Suncrest Bank said, "As a relatively new bank located in the Central Valley we are excited about participating in the SBA 7(a) Loan Guaranty Program. SBA lending is a large part of our small business focus and as a Community Bank we believe it is an excellent program to extend the Bank’s reach to more small business owners and borrowers."
Mendoza said, "SBA business loan programs are a win-win situation for the participating lender, the small business concern and the local community. SBA loans reduce the risk that lenders take on financing loans by guaranteeing major portions of the loan amount which in turn allows the business to borrow capital. SBA loans enable lenders to provide financing to small businesses when funding may otherwise be unavailable on reasonable terms.”
The presentation of the participation certificate will be held at Suncrest Bank during a board meeting in Visalia, California on July 15, 2009. For additional information please contact Melende Ward, Fresno SBA Office (559) 487-5791.
-the end-
Contact: Melende Ward, (559) 487-5791
Release Number: 09-11
Internet Address: http://www.sba.gov/news
Suncrest Bank Steps Up to Help Small Businesses in the Central San Joaquin Valley
Fresno – The U. S. Small Business Administration (SBA) has approved Suncrest Bank, headquartered in Visalia, California to make government backed SBA business loans. Suncrest Bank recently applied to the SBA and was approved to become a participant in the SBA's 7(a) Loan Guaranty Program.
Fresno District Director Carlos G. Mendoza said, "Cash flow is the life blood of all small businesses and a company’s ability to obtain business loans is paramount to the success in overcoming the credit crisis facing the nation. This approval comes at a time when small businesses and entrepreneurs are facing challenges in obtaining business loans. The approval of Suncrest Bank to be a lending partner with SBA programs will help the Fresno County community.”
A major concern today for small business owners is access to capital and credit. As a SBA resource lending partner, Suncrest Bank will be participating in SBA's 7(a) Loan Guaranty Program which provides several different financing options to small businesses. Loans made under the SBA 7(a) program include longer loan terms and lower interest rates than conventional loans along with broad eligibility and credit criteria to accommodate a wide range of financing needs. Small businesses may use SBA loan proceeds to expand or remodel a business, purchase machinery and equipment, working capital, finance seasonal lines of credit, construct commercial buildings and/or purchase land or buildings.
Mike Wilson, President of Suncrest Bank said, "As a relatively new bank located in the Central Valley we are excited about participating in the SBA 7(a) Loan Guaranty Program. SBA lending is a large part of our small business focus and as a Community Bank we believe it is an excellent program to extend the Bank’s reach to more small business owners and borrowers."
Mendoza said, "SBA business loan programs are a win-win situation for the participating lender, the small business concern and the local community. SBA loans reduce the risk that lenders take on financing loans by guaranteeing major portions of the loan amount which in turn allows the business to borrow capital. SBA loans enable lenders to provide financing to small businesses when funding may otherwise be unavailable on reasonable terms.”
The presentation of the participation certificate will be held at Suncrest Bank during a board meeting in Visalia, California on July 15, 2009. For additional information please contact Melende Ward, Fresno SBA Office (559) 487-5791.
-the end-
Tuesday, July 7, 2009
EMAIL MARKETING WORKSHOPS IN SAN LUIS OBISPO JULY 16
FREE EMAIL MARKETING WORKSHOPS IN SAN LUIS OBISPO JULY 16
Presented by Constant Contact and the UC Merced SBDC
San Luis Obispo, CA, July 6, 2009 — — Constant Contact, Inc. (NASDAQ:CTCT), a leading provider of email marketing and online surveys for small organizations, will present two free Email Marketing workshops in San Luis Obispo on July 16 at the Embassy Suites Hotel in partnership with the UC Merced SBDC (Small Business Development Center).
What:
10:00am – 12:00pm The Power of Email Marketing
This workshop will demonstrate how to design and execute email campaigns aimed at achieving better results and build lasting, positive reputations. Participants will learn best practices for building a quality list, increasing email open rates, encouraging readers to take action, and analyzing click-behavior to improve results. The program will showcase success stories and practical applications to teach email senders how to match their communications to customer preferences.
1:00pm - 3:00pm Getting Started with Constant Contact
More than 250,000 businesses use Constant Contact to help grow their repeat and referral business. This interactive workshop saves you time by allowing you to quickly and easily master the entire Constant Contact Email Marketing system. We’ll provide tips and techniques and guide you through the tools and features of the system. Learn how to set up account options, add signup boxes to your website and emails, load a list, build a campaign, and brand your email to match websites and logos.
Meet your SBDC live at this special event. Your SBDC empowers small business owners with the management, marketing, and financial skills needed to compete in today's challenging economy.
Where:
Embassy Suites Hotel
333 Madonna Road
San Luis Obispo, CA 93405
Who:
Kelly Flint, Regional Development Director, Constant Contact
In partnership with the UC Merced SBDC (Small Business Development Center)
When:
July 16, 2009
10:00am – 12:00pm
(break for lunch on your own)
1:00pm -3:00pm.
How:
Reserve your seat now at www.losangeles.constantcontact.com
About Constant Contact, Inc. Launched in 1998, Constant Contact, Inc. is a leading provider of email marketing and online survey tools for small organizations, including small businesses, associations, and nonprofits. To learn more, please visit www.constantcontact.com or call 781-472-8100.
About UC Merced SBDC
The UC Merced SBDC Regional Network assists Central California entrepreneurs and small business owners through counseling, training and business information. The UC Merced SBDC Regional Network is a partnership between UC Merced and the U.S. Small Business Administration. To learn more, please visit sbdc.ucmerced.edu or call 559-241-7406
###
Presented by Constant Contact and the UC Merced SBDC
San Luis Obispo, CA, July 6, 2009 — — Constant Contact, Inc. (NASDAQ:CTCT), a leading provider of email marketing and online surveys for small organizations, will present two free Email Marketing workshops in San Luis Obispo on July 16 at the Embassy Suites Hotel in partnership with the UC Merced SBDC (Small Business Development Center).
What:
10:00am – 12:00pm The Power of Email Marketing
This workshop will demonstrate how to design and execute email campaigns aimed at achieving better results and build lasting, positive reputations. Participants will learn best practices for building a quality list, increasing email open rates, encouraging readers to take action, and analyzing click-behavior to improve results. The program will showcase success stories and practical applications to teach email senders how to match their communications to customer preferences.
1:00pm - 3:00pm Getting Started with Constant Contact
More than 250,000 businesses use Constant Contact to help grow their repeat and referral business. This interactive workshop saves you time by allowing you to quickly and easily master the entire Constant Contact Email Marketing system. We’ll provide tips and techniques and guide you through the tools and features of the system. Learn how to set up account options, add signup boxes to your website and emails, load a list, build a campaign, and brand your email to match websites and logos.
Meet your SBDC live at this special event. Your SBDC empowers small business owners with the management, marketing, and financial skills needed to compete in today's challenging economy.
Where:
Embassy Suites Hotel
333 Madonna Road
San Luis Obispo, CA 93405
Who:
Kelly Flint, Regional Development Director, Constant Contact
In partnership with the UC Merced SBDC (Small Business Development Center)
When:
July 16, 2009
10:00am – 12:00pm
(break for lunch on your own)
1:00pm -3:00pm.
How:
Reserve your seat now at www.losangeles.constantcontact.com
About Constant Contact, Inc. Launched in 1998, Constant Contact, Inc. is a leading provider of email marketing and online survey tools for small organizations, including small businesses, associations, and nonprofits. To learn more, please visit www.constantcontact.com or call 781-472-8100.
About UC Merced SBDC
The UC Merced SBDC Regional Network assists Central California entrepreneurs and small business owners through counseling, training and business information. The UC Merced SBDC Regional Network is a partnership between UC Merced and the U.S. Small Business Administration. To learn more, please visit sbdc.ucmerced.edu or call 559-241-7406
###
Wednesday, July 1, 2009
SBDC Workshop in Fresno - State Labor Law and Payroll Tax Seminar
The UC Merced SBDC Regional Network and the California Employment Development Department Present:
State Labor Law and Payroll Tax Seminar - Free
July 28, 2009
9:30am to 3:30pm
Recordkeeping, reporting and payment requirements, and employer obligations. Common wage and hour law application. Employer and employee rights and responsibilities. Basics of how to distinguish between employees and independent contractors.
Location:
550 East Shaw Avenue, Fresno, CA 93710
In the UC Center, Fresno Building
Please register for this workshop @ http://www.edd.ca.gov/payroll_tax_seminars/
For more information about this workshop, contact: (866) 873-6083
For more info on SBDC workshops, check out our list of events at: http://ucmsbdc.ecenterdirect.com/conferencelist.asp
State Labor Law and Payroll Tax Seminar - Free
July 28, 2009
9:30am to 3:30pm
Recordkeeping, reporting and payment requirements, and employer obligations. Common wage and hour law application. Employer and employee rights and responsibilities. Basics of how to distinguish between employees and independent contractors.
Location:
550 East Shaw Avenue, Fresno, CA 93710
In the UC Center, Fresno Building
Please register for this workshop @ http://www.edd.ca.gov/payroll_tax_seminars/
For more information about this workshop, contact: (866) 873-6083
For more info on SBDC workshops, check out our list of events at: http://ucmsbdc.ecenterdirect.com/conferencelist.asp
SBDC Workshop in Clovis - Importing into the United States
Central California SBDC and the Center for International Trade Development Present:
Importing into the United States
August 18, 2009
1:00pm to 4:00pm
Are you familiar with the legal aspects of importing? Know when and how to use A custom house broker? Is U.S. Customs causing delays in your shipment? Can your product be imported quickly economically and legally? This workshop will help you learn the basic steps involved when importing products into the United States.
Location: 390 W. Fir Ave Bldg. B Ste 303, Clovis, CA 93611-0244
Cost: $40
Click here to sign-up for this workshop!
For more information about this workshop, contact: (559) 324-6401 or E-mail: info@exportcenter.net
For more info on SBDC workshops, check out our list of events at: http://ucmsbdc.ecenterdirect.com/conferencelist.asp
Importing into the United States
August 18, 2009
1:00pm to 4:00pm
Are you familiar with the legal aspects of importing? Know when and how to use A custom house broker? Is U.S. Customs causing delays in your shipment? Can your product be imported quickly economically and legally? This workshop will help you learn the basic steps involved when importing products into the United States.
Location: 390 W. Fir Ave Bldg. B Ste 303, Clovis, CA 93611-0244
Cost: $40
Click here to sign-up for this workshop!
For more information about this workshop, contact: (559) 324-6401 or E-mail: info@exportcenter.net
For more info on SBDC workshops, check out our list of events at: http://ucmsbdc.ecenterdirect.com/conferencelist.asp
SBA’s New Pilot Loan Program for Dealer Floor Plan Financing
Release Date: July 1, 2009
Contact: David J. Hall (202) 205-6697
Release Number: 09-46
Internet Address: http://www.sba.gov/news
SBA’s New Pilot Loan Program for Dealer Floor Plan Financing Begins Today
WASHINGTON – Beginning today, auto, RV and other dealerships can apply for SBA-guaranteed floor plan financing, which will make it easier for these small businesses to borrow against their inventory and increase their cash flow.
The new pilot program is one of the many tools SBA is making available to help increase access to capital and technical assistance to small business, and complements other steps already taken under the Recovery Act to help small businesses at this critical time.
"In recent months, we’ve seen a dramatic decrease in the availability of credit for financing dealership inventories," said SBA Administrator Karen G. Mills. "We want to be a partner for these small businesses and help ensure they have the resources they need to help keep their businesses open, save jobs and survive these tough economic times."
Floor plan financing is a revolving line of credit that allows a dealership to obtain financing through SBA’s 7(a) program for inventory that can be titled, such as autos, RVs, manufactured homes, boats and trailers. As each piece of collateral is sold by the dealer, the loan advance against that piece of collateral is repaid. As the loan is repaid, the dealer can borrow against the line of credit to add new inventory.
The DFP pilot program will run through Sept. 30, 2010, after which SBA will determine whether to extend it further. DFP loans can be made by any lender already participating in SBA loan programs. Lenders who are not already participating in SBA lending, can become an approved SBA lender if they are interested in offering DFP loans.
Since the DFP pilot program is a new initiative that provides a guarantee for a specialized product, the agency is working with and training lenders who may be interested in offering this type of financing. SBA expects there will be a ramp-up period for these lenders.
DFP loans will be available for a minimum of $500,000 up to the $2 million allowable under the 7(a) program. With a maximum repayment term of five years, the loans will come with a 60-75 percent government guarantee, depending on the type of collateral and the lenders advance rate against the wholesale price of the inventory. Borrowers will also benefit from the temporary elimination of fees on 7(a) loans made possible by the American Recovery and Reinvestment Act of 2009.
Borrowers interested in obtaining a DFP loan should contact their lender or their nearest SBA field office to get a list of SBA-approved lenders in their area who may be participating in the program. Local district offices and contact information can be obtained at the SBA Web site at http://www.sba.gov/localresources/index.html.
For more information about all of the SBA’s programs for small businesses, call
the SBA Answer Desk at 1-800 U ASK SBA or TDD 704-344-6640, or visit the
SBA’s Web site at http://www.sba.gov
Contact: David J. Hall (202) 205-6697
Release Number: 09-46
Internet Address: http://www.sba.gov/news
SBA’s New Pilot Loan Program for Dealer Floor Plan Financing Begins Today
WASHINGTON – Beginning today, auto, RV and other dealerships can apply for SBA-guaranteed floor plan financing, which will make it easier for these small businesses to borrow against their inventory and increase their cash flow.
The new pilot program is one of the many tools SBA is making available to help increase access to capital and technical assistance to small business, and complements other steps already taken under the Recovery Act to help small businesses at this critical time.
"In recent months, we’ve seen a dramatic decrease in the availability of credit for financing dealership inventories," said SBA Administrator Karen G. Mills. "We want to be a partner for these small businesses and help ensure they have the resources they need to help keep their businesses open, save jobs and survive these tough economic times."
Floor plan financing is a revolving line of credit that allows a dealership to obtain financing through SBA’s 7(a) program for inventory that can be titled, such as autos, RVs, manufactured homes, boats and trailers. As each piece of collateral is sold by the dealer, the loan advance against that piece of collateral is repaid. As the loan is repaid, the dealer can borrow against the line of credit to add new inventory.
The DFP pilot program will run through Sept. 30, 2010, after which SBA will determine whether to extend it further. DFP loans can be made by any lender already participating in SBA loan programs. Lenders who are not already participating in SBA lending, can become an approved SBA lender if they are interested in offering DFP loans.
Since the DFP pilot program is a new initiative that provides a guarantee for a specialized product, the agency is working with and training lenders who may be interested in offering this type of financing. SBA expects there will be a ramp-up period for these lenders.
DFP loans will be available for a minimum of $500,000 up to the $2 million allowable under the 7(a) program. With a maximum repayment term of five years, the loans will come with a 60-75 percent government guarantee, depending on the type of collateral and the lenders advance rate against the wholesale price of the inventory. Borrowers will also benefit from the temporary elimination of fees on 7(a) loans made possible by the American Recovery and Reinvestment Act of 2009.
Borrowers interested in obtaining a DFP loan should contact their lender or their nearest SBA field office to get a list of SBA-approved lenders in their area who may be participating in the program. Local district offices and contact information can be obtained at the SBA Web site at http://www.sba.gov/localresources/index.html.
For more information about all of the SBA’s programs for small businesses, call
the SBA Answer Desk at 1-800 U ASK SBA or TDD 704-344-6640, or visit the
SBA’s Web site at http://www.sba.gov
Small Business Advocate - July Issue Released
U.S. Small Business Administration
Office of Advocacy
--The Advocate--
Release Date: July 2009
Volume 28, number 6
Internet Address: http://www.sba.gov/advo/july_09.pdf
The Small Business Advocate is a periodic newsletter that details economic developments and regulatory trends related to small business as well as the latest initiatives of the Small Business Administration's Office of Advocacy.
IN THIS ISSUE
Message from the Acting Chief Counsel
When We All Work Together, Good Things Happen, 3
Regulatory News
Small Business Review Panel on Diacetyl Exposure, 4
Proposed Critical Habitat for the California Red-Legged Frog, 4
Advocacy Officials Get High Tech Education, 8
Legislative News
Consumer Product Safety Improvement Act Update, 5
Advocacy Blog Features Capitol Hill Updates, 2
Economic News
Small Businesses Most Likely to Lead Economic Recovery, 1
An Interview with Charles Ou, Senior Economist, 6
If you are having difficulty viewing this document, the following Adobe viewer for PDF files is available for download - http://www.adobe.com/downloads/.
Adobe also offers a handicapped accessibility site for the visually disabled at http://www.adobe.com/products/acrobat/access_onlinetools.html.
For more information about the Office of Advocacy, please visit our website at http://www.sba.gov/advo/ or telephone 202-205-6532.
Thank you for subscribing to our newsletter.
To sign up for Advocacy updates via RSS feed, visit http://feeds.feedburner.com/sba/rAIO
Visit Advocacy's Regulatory Alerts page to learn about and comment on proposed federal rules that may affect small business: http://www.sba.gov/advo/laws/law_regalerts.html.
In order to receive e-mail notices of Advocacy's news releases, monthly newsletter, small business research, statistics, and regulatory news visit http://web.sba.gov/list.
Office of Advocacy
--The Advocate--
Release Date: July 2009
Volume 28, number 6
Internet Address: http://www.sba.gov/advo/july_09.pdf
The Small Business Advocate is a periodic newsletter that details economic developments and regulatory trends related to small business as well as the latest initiatives of the Small Business Administration's Office of Advocacy.
IN THIS ISSUE
Message from the Acting Chief Counsel
When We All Work Together, Good Things Happen, 3
Regulatory News
Small Business Review Panel on Diacetyl Exposure, 4
Proposed Critical Habitat for the California Red-Legged Frog, 4
Advocacy Officials Get High Tech Education, 8
Legislative News
Consumer Product Safety Improvement Act Update, 5
Advocacy Blog Features Capitol Hill Updates, 2
Economic News
Small Businesses Most Likely to Lead Economic Recovery, 1
An Interview with Charles Ou, Senior Economist, 6
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